Property manager said it would gross around 5k on average but after paying their fee and cleaners and my utilities its the same as LTR.

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

All of those are rather strong areas with a lot of pent-up demand for rentals and a strong average household income to make higher-end properties pencil.

(newbie here) 10% NET income based on cash purchase.

We buy, fix, flip and manage and leave no stone unturned when looking for deals.We negotiate hard, buy with cash and close quickly.Gotta buy cheap in order to make margin but still deliver a turnkey property to investor at fair market value.I've always believed in "making money when you buy and not when you sell".So it's important to buy cheap.A strategy that I always tell all of our buyers when investing is to always "underestimate income and overestimate expenses".If you think it won't happen to you, it will and you can't go wrong including a margin of safety when predicting expenses.I hope that helps 👍

If you want to get into real estate, it might make sense to get your real estate agent license or some other license that gives you credentials when you graduate as a baseline of knowledge and potential income.

Hey Bryan, A lot really plays into the valuation and listing prices for properties: bed/bath count plays into it for sure, but also appraised condition, neighborhood location, neighborhood class, expected rental income, etc. 

Our minimum requirement for credit score is 580. 1 of the applicants credit score is 558 (this person makes majority of the income) and the 2nd person has a 661 credit score.

Participation in actively managing the property, in addition to other factors, changes whether or not losses from a rental (losses that may include bonus depreciation) can be used to offset non-passive income (W-2, 1099, etc). ...

I am lucky that my wife and I do well, with an average income of $500-600k.