While you may be able to make 200/door you probably lose that with lower appreciation.I would run some numbers on new purchases in Denver and one or two Midwest markets (using zip codes for household income to identify your b- neighborhoods) and see what makes sense.

Cashflow=Rental income- expensesRental income: how many rooms will you be renting out?

Keep in mind the Corporate Transparency Act trumps any privacy protections you might believe you are receiving by creating a Wyoming LLC.

I'd ask for the rent roll, or income statements.

A DTI (Debt-to-Income) ratio of 50% or lower, when including all expenses you pay/month, would be safe IMHO.

My long-term goal is to replace my income with passive income to not have rely on my day job.

In general 10% of valuation in gross annual income.

I'm not finding much unrenovated even that is even near 4% cap (net income divided by acquisition price).

I do understand I went from the top tier tenant that will pay the most for the perfect setup down to the unit that can be paid for with section 8 and will attract a lessor tenant or someone single / new young family / retired / disabled / fixed income etc.Here's the deal figures With closing paid , seller counters 10k above my offer, 6% VA loan, no points Does the property lacking those features make it a deal breaker ?

When I moved her in to a duplex with a yard at a 'susidized rate' when the new corporate LL doubled her rent, she didn't own a lawnmower or tool box.