It will not add $500k of value and will have huge negative cash flow if financed at high LTV.  

@Tyler HardyRight now my PCB place is cash flowing a bit better!

Added bonus for us was the 10,000 square foot lot and live oaks on the property -- hopefully something unique to attract more guests (or headaches from cleaning leaves, etc.), but time will tell. 

Get a roommate, hopefully a property that needs some cosmetic love, even better if it's a small MFH.Rinse and repeat every couple of years, slowly build some equity, cash flow, knowledge, experience and relationships and then you can do bigger, and more unique things. 

Great for cash flow but of course depends on the property.

Obviously “real cash buyers” cash flow.

Deal flow is obviously a huge factor.

Great income producing property, and will be more cash flow positive if rates go down and I can refinance.

These areas have different tenant pools, turnover rates, and varying cash flows.

So in the best case renting is cash flow neutral (or slightly positive, like $100/mo positive) after PM fees, and -$300/mo in the worst case.