After a few deals, I realized I was earning less than minimum wage most of the time.

I recall here stating his hourly wage an hours worked, but indeed I will need to see pay stubs and bank statements in the future .

So one months rent plus salary/hourly wage or is it 100% commission based?

For myself, I am a high income W2 earner and I currently have FEIE foreign income tax exclusion but at some point I have to be able to return to the USA fully or at least hedge against that possibility.

If they are not good tenants, the lease does not get renewed.When we determine the general direction for the year we look at:- inflation (US)- hourly wage growth (US)- market rent growth (in my case Milwaukee)We also monitor the market and our competition, we get feedback with every turnover and see what fair market value is.

Someone who is a very high W2 earner (e.g many of my younger tech friends) are fine with taking more risk, buying lots of OOS, scaling, etc. 

I’ve heard of their full recourse scenarios consisting of personal assets and even garnishing wages(I suppose it’s contract dependent and how sharky they’d guys get).

When that figure was first used the Federal Minimum Wage was $1 per hour and the 1099 requirement represented somebody who worked for you for a minimum of 600 hours. 

We calculated in our head this as 6 people working one day, at $250 per day, highest wage this amounted to $1500 labor, beam $450 with mark up, $2k to $2.5k sounded fair. 

It takes a pretty healthy wage for an individual to rent a small one bed.