You can easily be under $500 after a couple of closings.  

You might be able to hit your $1000/month goal pretty easily.

Depending on the location of the property, the numbers seem extremely thin for what can easily be found in the area. 

So for example agent can overprice bank owned property and it may seat on the market for months, while they reduce price by a few thousands every couple of months, till it will even start register on peoples radars.  

Being conservative, I figure I can easily get $850/month for rent.

I do have an Excel spreadsheet I developed which calculates all this for me fairly easily, including a decreasing sale price (in decrements of $10K).

We could easily find someone to be as trustworthy and accountable as us, but it would come at a price of paying them a high wage, leaving not much left for profit for all of the hassle involved with managing another's schedule.Instead of expanding our business adding lots if stress for a little extra profit, we plan instead to just enjoy working a healthy business and transition into real Estate investing.

Converting your term policy to some type of cash value would be poor financial choice, your premiums could easily increase 10-fold for the same coverage.You can use your Roth and Traditional IRA (and 401k) to setup and moved funds into self-directed IRA, which would give you the freedom to invest into any investment opportunity. 

I put tenant address numbers as the PIN.Experiences I have had with Wells Fargo and that others have had with PNC is that you can't easily define what tenant made a deposit.  

I stumbled upon this run down 4BR house which needs complete gutting and rehab - easily a $150-200k project.It was listed 6 months ago, list price was lowered last month to $500k.