Worthwhile to note that in the MSA I operate, the rents dipped by about 8% at the bottom of the great recession, and cap rates came up to 6.5% - 7%, depending on submarket.That said, to experience what you are proposing we would have to encounter an economic downturn much more aggressive than the one that began in 2008.I have to be honest - I don't see it...We have to draw the line somewhere in the sand.

We are using a realtor friend to draw up the purchase contract.

That $1,800 divided by your $20,000 down payment is the portion we call the Cash-On-Cash Return.

@Marisa RoweYes Marisa he should still expect some maintenance but in the condo it would mostly be water heater/ac and kitchen appliances divided by remaining useful life.

Account ClosedBig reward = high ratio of (tax + penalties + interest assessed) divided by (IRS payroll and other costs).There is not an exact number.It sounds like you need to find a new CPA.

“The husband worked full-time as an emergency physician, while his wife divides her time between caring for their children and managing their rental properties.

The lender will want a certified contractor to do the work and they in-turn have to work with the lender's inspector for draws, permits, etc.

Maybe every sub should sign off on being paid before the next draw. #11.

Assuming owner-occupied, 80% LTV cash-out refi being able to draw 55K less closing costs, would be a good idea depending on your strategy, like a few have mentioned. 55K is a decent down-payment for a number of different property options.

My goal is 10 SFH, as I'm just looking to supplement a $3,000 a month pension (inflation will slowly drain its buying power, so turning to real estate to combat that effect) that I'll start drawing from in 2023 at the age of 53.