I do have a few contractors I know personally I could probably lean on, though.Let's do some rough math if you buy the home cash for $20,000 and it rents for $650/month.

Do the math on rent to income ratio.

If you are getting a mortgage you would be looking at 25% down, and lets call it a 5.5% rate (I got 5.625% with a near-perfect credit score a year ago, and rates have fallen somewhat but investors still pay a premium rate).Your cash in is 57,750 (25% down and 5% closing costs)Your mortgage (176,000) monthly payment is $999Your taxes, I'm assuming, are around $3,000 a year at that price ($250 per month)Your insurance per month is $70, estimated...Your income is $1500 a month.Now do the math:1500 - 999 - 250 - 70 = $181 a month cash flowAnd that's before you did...anything...zero accounting for CAPEX, maintenance, water/sewer, vacancy, management, etc.Your cash on cash return of 57,750 is 3.76%.

When we do the math we are going to get everything set and done $2,875 at month.After all expense we will have left $475 every month.What do you guys think about this strategy?.

However, you obviously have to be able to feel comfortable with the decision you make, but just know that if you've done your homework, and your math pencils out, the rest is pretty much out of your hands.

The math for this is simple: no job == no rent.

You have to do your maths and what is a good return for me might not be the case for you guys.

I was thinking maybe $25-35M for what I want to do, using back of the napkin math (Denver is probably more expensive than Louisville). 

I was 29... the 'traditional' retirement plan left me with 40 more years of working before I could retire.With some back of the napkin math... over the next 40 years88,560 hours spent at work77,120 hours spent with my familyThat really sunk in...

Do the math and you'll be alright.