I would check your cash flow in relation to that $55k number to see if it's sufficient for you.

Focus on fundamentals: buy below market value, have strong cash flow (or a clear path to creating it), and maintain sufficient reserves to weather any unexpected challenges.If you’re strategic and stay patient, this market could create opportunities that lay the groundwork for long-term success.

Financially it only makes sense to invest remote if you have a sufficiently large economic delta between the market you live/work and Milwaukee.

Do you have an idea of the long-term rental amount, and would that be sufficient to meet the DSCR ratio needed to qualify for the loan?

I was a terrible negotiator, but I figured, anything under or at asking would be sufficient.

I was a terrible negotiator, but I figured, anything under or at asking would be sufficient.

$120,000/0.06 equals $2,000,000.So in my mind the target should NOT be cash flow but rather building net worth.Despite what the gurus say, sufficient cash flow to be financially free can only come once one has sufficient capital to invest.Let’s be clear I only buy apartment propeties that cash flow but immediate cash flow to put spendable dollars in my pocket is NOT the primary goal.

@Nik Verret Airbnb and VRBO should be sufficient as you start off.

Clean-up costs- make sure you have sufficient coverage.D. 

If you are not building in sufficient capex, then these costs could be higher, if not much higher.