Which ever formula you decide on, it’s the one that you should stick to you for the duration of the tenancy. 

Congrats again and hope whichever one you choose, you thrive!

Even at a snails pace you're likely to spend $100-300 per month on paper, printer toner, gasoline, postage, and cell phone minutes, etc.

So someone (like me) comes and fixes it up, raises the rent, neighbors and people are happy, but the people who can't afford a the nicer place (and really can't afford to move) are off to try to find something else that's cheap (thus crappy)4: "Those who can only afford $300 a month or whichever arbitrary number we are using for the sake of argument, typically qualify for section 8 anyways and section 8 pays a good amount.

.$3100- $1600 = $1500 cash flow.I have another 80k saved up and would like to put about 60k towards my next property (leaving 20k for emergency funds, rehabs, personal fund etc.)I have zero debt (no student loans, no car payment) outside of the HELOC I had to purchase the first property I stated above and most of my living expenses are paid by my employer (car, gas, cell phone).I am based out of Central Pennsylvania and am looking to stay somewhat locally for my first few properties (Harrisburg, Camp Hill, Lancaster, Hershey etc.) and am not really interested in out of state investing.Just looking for some advice or input on what you would do next if you were in my situation,Any input and info would be greatly appreciated, Thanks!

I thought about real estate but i realized that the best way for me to be happy in whichever real estate objective i embarked on it has to be something that i can enjoy doing and of course provide financial freedom where i can quit my j-o-b and build generational wealth for my kids, grandkids and beyond!

However my plan is to buy a home in cash and do a cash out refi and my credit union has a 6 month wait to apply but will only use sale price plus documented receipts or appraisal but whichever is less,  or I have to wait 12 months to use appraisal value.  

An 80% LTV means your loan amount is 80% of the appraisal or purchase price, whichever is lower.  

I would raise it by 10% or $50 max whichever is lower, at a time depending on your actual rent range.

Whichever county / city you choose, gauge rules,  regs and sentiment well as part of your DD.