In order to get $60k in income from $300k, you would need to find a property earning a 20% cap rate.  

(ignore depr recapture to make calc easy), AND EVERY YEAR THEREAFTER (don't need a number here just the concept what/how cap gains would be calculated each successive year)2.

Currently hold a corporate job which I plan on getting rid of within the next year thanks to my new career as a Real Estate Investor.Although I’ve just recently started my professional career as a Real Estate Investor, I’ve received extensive professional training from long time experts in the field, successfully closed a couple of deals of my own already; as well as helped Cash Buyers find great deals in my area meeting and exceeding their expectations.My immediate goal is to specialize in wholesaling deals, finding the best deals for my cash buyers per their personal criteria.My short to medium term goal is to buy and hold at least 5 or more rental properties consistently producing the highest cap rate possible with a double digit cash on cash return within the next 5 years.

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For years, I was not calculating vacancy, or Cap expenses when calculating cash flow.

They are the primary features every modern day kitchen must haves apart from the granite or the marble kitchen countertops. 1.

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Cash flow will be about $100 per month after PITI, management, and reserves for vacancy, maintenance, and cap ex.

In Scenario 2, the car is totally financed, and the $40k is instead used as a down payment on a $200K property with a 7.2% cap rate. 

Your Cap Ex will account for that work as you save for it.