Things not even related to the house itself can come into play - how is the neighborhood, do you know what your taxes and insurance are going to be, will it need flood insurance, how is the foundation, the roof, the AC, the plumbing, the electrical - things you can't always tell from pictures.As a general rule for myself, if I can't make $50,000 on a flip property, it's not for me... and usually I'm actually looking for closer to $100,000 (net) after reno.to be happy and know that if my rehab runs high, or my sales price runs a little low I will still be ok.  

Multifamily Millions by David Lindahl is the Multifamily Bible I follow religiously as I have repositioned my value play Apartment Complexes to Financial Freedom.  

Thank you for the response.I decided on going ahead and cash out refinance my primary residence and property 1.While the cashflow will go down, I really should be playing the long game and continue to scale (like I wanted to do).Another purchase/rent increases should/will cover the losses in cashflow, while increasing amortization's.Really appreciate someone taking the time to reply and read, since I have no one else to talk to about these subjects.Thanks again!

How do I calculate and play around with those numbers?

@Chris Pasternak I’m 24 years old and my tenant is in they’re late 30s So he suggested i play middle man because people don’t usually show the same respect to younger land lords.

I was nervous about the refinance portion after renting it too, as I am assuming the rental income plays a valuable part in the appraisal.

And there are so many different investing strategies at play right now. 

Play my role as real estate investor not landlord, let my property manager do his job.

How big of a part does the gross rental income play in that appraisal price. 

If you want to work for an institutional investor or have any desire to play in the middle market or above [which the best way to do the latter is to have worked at for an institutional shop] then a degree is a requirement and if you want to work at the shops that do the most interesting deals [family offices, pension funds, REITS ect] you will have had to work at some of the larger firms to cut your teeth and they do care where you went to school.