Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

I am a CT based investor, flipper and property management company owner.  

@Jonathan SniderFannie and Freddie do have LLPA's and the lower the down payment, the higher the cost.

It would also be much easier to manage considering you are currently living in Arlington.

I served as the buyer's agent and property manager for my clients under Blue Chariot Realty & Management.

So about 8 houses per year will do ya....but don't forget your costs of doing business AKA overhead....Very good point!

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

Next question.... will you self-manage it, or turn it over to a professional management company, or some type of hybrid? 

This can be very expensive and is usually the worst choice because you can't justify the cost.2.

Would you be able to share what the general property management fees are on a AirBNB?