It should really be about the income but some people do secretly want to run up the score on # of doors.

So for the first one I would be less concerned about earning a commission and more concerned with learning from someone experienced.

Have higher rents and higher income tenants .

Furthermore, you can deduct the interest payments against your rental income.

I am trying to get into the real estate industry as one of my main income sources, however I don't want to take a slow and steady approach as a goal to finally retire comfortable at 50.

Several reasons:  Phoenix is an expensive and hyper-competitive market; your monthly income is $4K which in and of itself is limiting, but even more so with most of that being cash; and your credit score, while not terrible, needs to be raised, especially with you being self employed and a mostly cash income.

You also have to make sure how much would you be netting once you move out and in order to use that rental income for that unit you're planning move out, you will have to get a lease signed for one year and lenders will be able to use the leased rental income at 75%.

I feel as if I have too much debt compared to my income to ever be able to get another loan for the next property.

Just like, in 2005-2007, a bunch of 'stated income' loans drove home values to stupid levels, for the last few years we've seen these residential "no DSCR required!"

I'm closer to solving this now as a couple local GCs seem interested in coming to terms.