Typical rates are 8-12% of income either monthly or yearly depending on manager.

@Michael PrimaveraYou will not be known as a high quality landlord if that is your desire do not enter the glamorous world of low income housing. 

That was part of the reason I relocated and began investing in the Oregon Coast in 2018..I could purchase for less than the cost of renting..Pre-Pandemic, real estate on the Oregon Coast were surprisingly affordable, since the 'secret' is out the OR Coast has become a destination for investment, relocation and retirement planning. 

The free rent many low-income tenants got during COVID has only made their attitudes worse:(One thing to discuss with your PMC, how good are the contractors they are sending to work on your Class C and D properties?

Only a reliable income matters.Rent range - What the segment is willing and able to pay.Configuration - Two bedrooms, three-car garage, large back yard, single-story, two stories?

And quitting your job will probably not happen right away, the income from your job will help you to get loans to buy real estate.

I am super conscious that I am using my retirement for this venture.

There is going to be a major shift into 2024 where many agents are going to be forced into retirement. 

It will return the best investment a on a daily basis reading our advanced in house analytics that calculate income and expenses for every property on the market every day. 

My spouse Luba at that point was very tired of these living conditions, the income instability, and the investment in the house, which she felt was my personal big mistake.