If the property has a good cap rate and you can withstand any reduction in rents or vacancy increase from an economic downturn, what difference does it make where the property is?

I'm seeing an increase in those of us who got burned with Morris. 

It's my goal to do this kind of work for someone else with a decent portfolio for around 45 k a year while I gain the confidence and the skills to invest myself.

Tiffany, you'll probably find that subbing out more of the work that your husband is doing will allow you to grow faster than hiring an employee, but it just becomes a math problem to figure out if increased labor costs are offset by the higher overall revenue generated by doing more flips each year.

Two things you are missing is annual rent increases, say 3-5% (or more) a year, and price appreciation. 

Prices have definitely increased.

Does anyone know what kind of a tax increase I can expect, or is there a resource where I can find this information?

Either way, I am at the stage where I am fully confident in my ability and willingness to step out and be successful on my own in this industry.

Does anyone know what kind of a tax increase I can expect, or is there a resource where I can find this information?

I plan on the next investment to cover the increased mortgage payment and would like to continue to use the equity to accumulate more properties.