Do you want to generate passive income or are you okay with negative cash flow?

@Rachel Waldorf How do you live with 0 income?

$200k is almost half the median income.

Politely decline those with poor credit or insufficient income.

Dear all,I am new to real estate rental investment and looking to purchase my first rental property as a source of passive income. 

If there's limited interest or little activity, it may indicate that you need to reduce the price.

For the purposes of calculating the limited interest deduction, the total mortgage debt owed would include both the individual mortgage on Unit A and the owner's share of the underlying mortgage.So, the total mortgage debt owed would be $800,000 (individual mortgage) + $200,000 (owner's share of underlying mortgage) = $1,000,000.Therefore, the owner would be limited to deducting mortgage interest based on this total mortgage debt of $1,000,000, not just the individual mortgage.Thus, the deduction for mortgage interest would be calculated as:($750,000 / $1,000,000) * $40,000 = $30,000Therefore, in this scenario, the owner would be able to deduct $30,000 of mortgage interest for federal income tax purposes.

Analyzing a current property listed for 39,500.ARV x .7 - rehab cost= my max offerARV is looking at 60,000.Rehab is looking  around 10,000.70% of ARV is 42,000, minus 10,000 for rehab, equals max offer of 32,000.I do my best to underestimate ARV and under estimate refinance LTV, this could cut into number of deals acquired but reduces risk of over estimating and having money tied up in the property.

.: @Indrani Peyton There are more details than just simply getting approved for 400K with a minimum 27K income.

I now have 2000 units and a team that allows me to focus on just the parts I enjoy (mostly the deal making)I don't see anything I could have ever done that would bring me as much income and wealth.