@Michael Plante Wow!  

I went to my bank and asked them to open a second bank account for me with a completely different account number.

We're still working on firming up the remodel cost and purchase price as we are not yet under contract.I looked into a 203k rehab, but their limits are too low to complete the necessary work.

The first duplex I purchased is still another 6-8 weeks out from completion, and so I have no rental income on that property at this point, but am paying a hard money loan on.  

The concept of an unlimited ROI was intriguing (using a hard money loan to pay and fix a buy-and-hold property and refinance after completion with essentially no money down).My questions are:1-"What happens when loans dry up such as during a recession?"

@Michael Plante Net is calculated above - it would be $1032/mo.

@Michael Plante We live entirely off a base salary after taxes of $4562 a month ($1000 mortgage, prop taxes, insurance, food, vacation savings, etc) and I also make about $5000 a month in commissions.

I have one completed and under contract and I have another being completed.

in some fashion in order to put the expense onto the tenants completely.

Sacramento and Memphis are completely different markets.