Aim to purchase and renovate a property for resale, with the ultimate goal of acquiring additional income-generating rentals.

Passive  income is fairly consistent - especially to the bank.  

Make sure they are experts in your market segment too. if you want to do low income housing, then a great manager who focuses on B class properties isn't going to work.

Essentially, from the buyers prospective, this is a “penalty” paid for either having poor credit (bankruptcy, 90 day lates, overburdened with debt) or lacking income.  

The advantage is that, by living in the smaller unit and renting out the larger one, you generate a lot of rental income!

Since you never formally owned the asset, that income could be seen as regular income.

That GRI does include income for cleaning, taxes etc. though normally, which is really pass through expenses for the most part.

Typical rates are 8-12% of income either monthly or yearly depending on manager.

My house on slab is in a nice middle income area with expensive fishing boats and RVs in the concrete driveways, yet 2 comps were on another area with block homes, hoopties in dirt driveways, and 2 of the comps even sat next to trashy convenience stores.

→ How many rentals would it take to replace your W2 income?