Yesterday my job was eliminated, so my main source of income is gone, however, I have $1,425/mo coming in from a condo that's paid off.

QuickBooksQuickBooks can be a good option for tracking the financial aspects of your deals, such as downpayment, funding sources, mortgage details, and cash flow.Pros:Widely used, with robust reporting features.Can track both income and expenses, making it easier to manage the financial health of your properties.Offers integrations with banks and lending institutions for easier transaction tracking.Cons:There might be a learning curve if you're not familiar with accounting software.May require customization or additional apps to track all the specific real estate details you mentioned.3.

My STR property manager can run an income analysis broken out by projected monthly rents (winter, shoulder months, summer, etc.) if you're interested.Happy to help!

Yes can do it 25% down on DSCR no income no doc .

In fact I assume that there are probably many many property owners who are not realizing their dream of a passive income property there.However, I'm a veterinarian not a real estate expert!

If, in principle, I can make it so that I have extra income left over after deducting all expenses, I have a positive cash flow.

Make sure the rental income comfortably covers your mortgage, taxes, and other expenses.

I live out of state and will be using this as a rental income property.

But -- rant incoming -- as @Erin Spradlin, resident midterm rental expert in our household would probably ask you, why limit your targeting to just one demographic? 

However, an essential exception emerged in the 1990s, allowing specific rental income to be categorized as non-passive.