This translates into $204K over the life, in addition to the small down payment.  

BE ADVISED:  States have different regulations on this, but you become an employer and must meet all State Employment regs,  withholding, workman's comp. 

Lastly, with foreclosure there may be additional debts on the property.

In the last 13 months I received my license, bought 16 rent houses, flipped two houses with 500+ sq ft additions, and scraped three 1000 sq ft houses and build new 2600 sq ft homes.

Any as luck would have it, I now find myself between jobs (between careers really) and I can't qualify for a personal residence until I'm employed again.  

However, my California RE mind sees the prices vs rents and am bewildered by such statements.As of now, these are my desires in properties:a house or townhome built after 2000 - I prefer after 2003 turnkey condition MOST PREFERABLE, but not necessarily a requirement at least a 3+2 neighborhood well kept and not too much crime $50-$100K, short sales are acceptable Close to transportation and/or the fwy Relatively close to downtown and the airport (10-20 min when there is no traffic)Seeking cashflow, appreciation much lesser priorityFor rent of 800, the PP cannot be exceed 60kFor each additional $100 of rent, the max PP can only increase by about $12.5k.If you see immediate issues with these desires, PM me so that we can talk about it offline.

Ss is a great long term  business to add to your portfolio in addition to single family.

We have an additional million dollars for about $200 per year and that covers our flip houses, etc (protection against being sued). 

In addition to SFR's, they have an inventory of condos right now that seem interesting.

I also require they get renter's insurance with a minimum of liability amount of $200,000 and I am listed as an additional insured.