Heather and I have been in real estate for almost 20 years, but not as investors.

You either spend the time categorizing your revenue and expenditures as you go (easier) or at the end of the year (harder IMO).

We both make near 100k each a year and we are tired of our jobs.

This is just my opinion because in over 18+ years in banking I have had thousands of customers who started off doing fix and flips change gears and then buy and hold. 

Hello Kaleb,Years ago, I went to a Mobile Home Park University seminar, and I remember a very similar question. 

Still  Of those 90% of remaining agents, a good portion of them probably have a decent number of transactions/year; for a few years. 

Syndication was the rage the last few years, and now creative financing has become more prevalentGino

Those are easy to finance, and the financing is solely based on the properties income using a DSCR ratio for qualification.I would look for a property like this one, https://www.zillow.com/homedetails/5810-21st-Ave-Kenosha-WI-...Lets say you could buy it for $100k, and its $50k in rehab, and ARV will be worth, $200k.When you do the rehab, make sure all the mechanical systems are brand new, then you will have relative few repairs for the next 3-5 years.I can get you a loan for $90k purchase, and $50k, rehab, once its finished you can refinance into a 30 year fixed rate loan between 6.5-6.8%, and cash flow. 

It's updated yearly and is the best $40 you'll spend as a Landlord.

Depreciation is an expense that you take "on paper" each year you own a piece of investment property.