You have to subtract the original $230k you paid out of pocket first...which leaves you with $715k.Now, subtract all the lost income (now negative CF) from the months that you had vacancies, Maint. costs, CAPEX, etc...assuming 15% of rent per year, that's about $15k x 15 years = $180k...which leaves you with $535k in virtual profit.IF we just stopped there, you would have gotten $35k/year return (on average).Now, comes the big money losses.You will be operating at an average loss (and this is real money due to cash out of pocket to pay for expenses not covered from rent due to now negative cash flow)  per year of at least $15k.If you had invested those losses (and since the source would have been liquid this is not a virtual thing) at a measly 5% per year, and reinvested it all every year, you'd be at almost $800k in actual real money.Anytime you accept hard cash losses, you are losing the benefit of your cash being a "verb" instead of a "noun"...and you lose all the compounded profit from you cash being reinvested and in action...forward action.

And yes, definitely don't plan on leaving Texas anytime soon!

So if you can qualify for these loans, these are the best loans to get.But if you can't qualify for government loans that leaves us is with non-government loans. 

I plan to leave my current career in engineering to become a full-time "buy and hold" multifamily real estate investor.

I'm considering leaving my home state to stop paying so much to live here, But I also have a marketing/video production side hustle for the past 8 years so I really focus on earning more instead of cutting everything out as my wife and I already live pretty frugally.Great post @Terry Lao

The challenge is so many start to stretch the underwriting and it leaves fewer deals resulting in more people trying to stretch the underwriting to get a deal done.

Do not leave anything on the table.2.

Tenant also stated that I could not ask her to leave without having cause.  

Ideally I would like to just focus on one place but I don't know how to go about that as none of them shine anymore than the other from what I am seeing. 

As you can imagine this leaves little extra cash to invest in real estate (outside of my SEP which i dont want to do).