Median income is 117k, Median home price is $370kIn Palo Alto,CA, median income is 178k, Median home price is $3,200,000Cleveland median income is 92k btw...So Milwaukee still has long appreciation play that can still be supported by people income, what I don't understand is whether the statistic is accurate, I thought the income in that zip code is only 50k. 

If you don't have one (the form), the are available for free download online. 

Here are the details at a high level:Purchase price: 174,000Closing costs: 2,000Down payment: 20%Rental income: 1525Monthly expenses: 487 (insurance + tax)Maintenance: 128 (1% of purchase price)10% vacancy: 150Self-managingI am not sure what interest rate to use to get the monthly mortgage amount.

My original goal was to create $15,000 in gross rental income in 3-5 years.Now it's more simple.

That interest is income. 

My goal has been to borrow money for the rehab, rent it out to generate income for the Trust's beneficiaries, and then do a cash-out refi to recoup my down payment and any other out-of-pocket expenses.I believe there are limitations in an Irrevocable Trust, which would prevent me from simply deeding the property to myself or possibly even to an LLC if I create one, even if the end result is in pursuit of my fiduciary duties to the beneficiaries, as Trustee (i.e. making the home inhabitable and generating rental income for the beneficiaries).

The equity portion will end up being the positive with the buy and hold method, so I’m looking for a way to be creative to get to a better income flow/better return.

Buydowns also may be more appropriate for people who have stable income set to grow over the life of the loan, making it easier to keep up with payment increases once the initial rate period ends.But again, timing matters.

Even though it may require more work overall, it is incredible that a single investment can create enough income to retire.

But a lot of my clients that can get these better deals are now refinancing and keeping these and stacking inventory and when market conditions are such they can exit they will start selling and it makes sense hold them over 12 months and now you have a performing asset and you have cap gains instead of ordinary income.