That will determine the next step.

I've sort of ignored those I've seen posted as I fear it's just going to be a bunch of people in a room asking if starting an LLC and building a team is a good first step. 

If you have exhausted the friends and family list, next step would be to find brokers active in the market and property type. 

As for the whole cash flow conversation, I will revert back to initial comment. 

IRS Audit TacticsThe IRS uses the initial interview to secure a statement from you as to hours worked and activities performed on your airbnb.

I initially hated our condo investments as for the first few years they barely cash-flowed with maintenance, condo fees etc. 

If you can't handle stepping in to a grocery store or attending Sunday church service without a dog in your pack, you may need to be medicated and under constant supervision.I'm prior military and a combat veteran.

Here is what the numbers came out to:$50k unsecured loan at 8% interest from Huntington BankPurchased property for $40k- used the remaining $10k for repairs (repairs should take max of 2 months)Rent house out after repairs are done for $900-$1,000 per month  ARV of property is $60k53rd Bank offers 90% LTV refi after 6 months seasoning and $195 processing fee at closing- Refi property for $54k on a 30yr mortgage at 5%Mortgage payment including taxes & insurance= $436/monthCashflow= $900 - $436 = $464 gross cash flowRemove 20% for cap ex/vacancy/other expenses (round up)= $100Net Cash flow= $364 monthWith the 90%LTV refi I am able to get my initial $50k back from the unsecured loan plus $4k.

We feel that performing this step is particularly crucial from a liability perspective since we are placing unrelated individuals into a shared living space.The applicant by all other metrics is a great catch.

I am a big Dave Ramsey fan, I am a believer in his baby steps.