You can easily be under $500 after a couple of closings.  

You might be able to hit your $1000/month goal pretty easily.

Use the filters on your favorite real estate web search and you will see what he means. 

Once you use the tax data, you can then filter through the list of homes to select your specified or "ideal" criteria.

See below:  the blue thing is the water filter (yeah - bad place for it) and the black thing on the ground to the right is the water meter (per water district maintenance guy that was at the house to turn the water on from the street). 

Depending on the location of the property, the numbers seem extremely thin for what can easily be found in the area. 

Being conservative, I figure I can easily get $850/month for rent.

I do have an Excel spreadsheet I developed which calculates all this for me fairly easily, including a decreasing sale price (in decrements of $10K).

We could easily find someone to be as trustworthy and accountable as us, but it would come at a price of paying them a high wage, leaving not much left for profit for all of the hassle involved with managing another's schedule.Instead of expanding our business adding lots if stress for a little extra profit, we plan instead to just enjoy working a healthy business and transition into real Estate investing.

Converting your term policy to some type of cash value would be poor financial choice, your premiums could easily increase 10-fold for the same coverage.You can use your Roth and Traditional IRA (and 401k) to setup and moved funds into self-directed IRA, which would give you the freedom to invest into any investment opportunity.