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

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 .

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.

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

Every time my previous homes I've lived in come back on the market, I always go to see them.

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.

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? 

Our Situation:Two couples, new to real estate investing, each with one working spouse with a high income (W2 and 1099) and one non-working spouse plan to go 50/50 on a new construction STR which will not close until Spring of '25. 

Their source of income is critical as they have no backstop (sick days, health insurance, etc).