That could be a very expensive lesson learned.

Expenses including maintenance and vacancy is $1,400 per month for a total monthly cashflow of $695.

These referral services have you add property info, photos, etc. but then send your info to the listing agent who does the work (and gets paid by the referral service).Here's the catch: The actual listing agent is going to need to send you the real listing input form for your local MLS.

"I want to earn $4,000 per month after all expenses" is a goal that you can reverse engineer and work towards.2.

Hey Inga - You shouldn't have to go with private money to make this work, that would be more expensive than necessary.

I read the Fannie seller guide and it says that a cash out refinance has a 12-month seasoning requirement if it is paying off an existing first mortgage: "If an existing first mortgage is being paid off through the transaction, it must be at least 12 months old at the time of refinance, as measured by the note date of the existing loan to the note date of the new loan."

(It is more costly though)     I gave my cpa my income & expenses per property he said that’s not enough.  

When will it be paid?

On average, at least with today's numbers, to get $70-80K net in your wallet every year, you'd need a $800K to $1 million property that is completely paid-for. 

Let's put expenses at 15% since it's a new build, and you're looking at a 10.2 cap rate.