I do run a quick analysis with the additional expenses (cleaning, utilities, etc) and the most conservative monthly MTR rents I can expect just to be safe, but my focus is really on that LTR analysis.

We'd be paying less than we would renting after taking conservative reserves. 

And I like being conservative with my estimation and have good surprises later.

If it appreciates conservatively 3%, and it's valued at $550K now, that's ~$637K in 5 years. 

For example, I bought my house 10 years ago at auction and have rented it out and lived conservatively there is only 100,000 left on the note.

So you have to give it time.My tip, play with the BP rental calculator and start with a $1M property value, 10k in rent and very conservative assumptions for rent growth and appreciation.

For me, I'm a very conservative investor and may look through a hundred deals a month, and at the end of the year only invest in 4-5.

With a newly rehabbed property that might work for a couple years, but in the long run 5% is a better and more safe/conservative estimate IMO.5.

I learned that I was smart to be super conservative on underwriting the deal, I passed on hundreds of deals before I saw a great opportunity and was able to make a quick decision.

Insurance premiums - make sure you get an accurate initial quote on this and have conservative assumptions as they have been increasing at 10% per year the last couple years.Good luck!