The down payment plus closing costs, expenses to make the property rent ready, travel back and forth (do not purchase a property in a market that you have not visited and/or do not plan to visit pre and post purchase), and the required cash reserves puts your realistic purchase price around $150k. 

Although with tax write-offs, depreciation, and equity growth, this property is still a positive of $15-$20K annually to our net worth.

Also, do you know if they verify the previous LL is actually the true owner of the property via tax or other records?  

In terms of tax implications how does that even work?

Cash flow is obviously so dependent on the purchase price or adding value to an existing property.

We also have options for non-accredited investors to receive the benefits of owning a loan, but also the tax benefits of not having to pay ordinary income on the interest

Hey Chinmay, Depending on your FICO score, annual taxes, insurance, and property location you should be able to qualify for a DSCR Cash Out loan. 

I have a master "Rent Paid Checklist" for every month on Google sheets and Rent Rolls, a master Lease Anniversary List, and a monthly to-do list to make sure I don't forget to pay the mortgagees and such alongside a month-specific to-do list I add on to not forget to pay taxes or that Suite 205 said they are moving out at the end of the month.

Regarding the $80K, if it's your primary residence that could be considered tax free money.

@Aaron SweatPossibly depending on LTV on those other assets - we have done this in the past. 10% interest is probably low I would expect 12-15% plus points but shop around.