I am a US investor, but I struggled with this idea for a while when doing the books before finally getting it, and I think I can attempt to answer your question:- The biggest difference between your taxable income and cash flow (if you are like me) will be the principle you are paying on your loan (this should also show up on your P/L statement and not your checkbook)- Your principle payment will be taxable as income- IF your monthly cash flow is low (or under a certain % of rent collected) you will end up in a cash flow negative position at EOYUsing the example above:if you have an income of $1800 - expenses = $50 monthly margin. 

There’s various efforts ongoing in attempt to clean up the west side, but I just don’t see anything material happening anytime soon.

If you treat yourself with the same lens as you do your potential real estate endeavor it will help set you up to weather the hard times.

HOWEVER, if the property can't compete, then do NOT attempt to rent it out. 

Congrats on your new endeavor and thank you for your service!

Cheaper is not necessarily better, and I think most people searching for a pm will recognize that.Good luck with the endeavor!

Hello, My family has some property they are attempting to sell through a R.E.

I'm on the brink of making this a more full-time endeavor, been listening to the BP podcasts on all my commutes and am just hoping for your seasoned input here!

-Once the list is obtained, I will attempt to get a phone number to the owners who are not within a 25mile radius and physically door knock the rest.     

You'll also want to make sure that the other tenant(s) understand that you are the owner - so that your new tenant (the seller) doesn't attempt to control the property or make decisions that will no longer be his to make.