But it was stressful fun and I want to do it again.My goal is to really have healthy cashflow I can duplicate and if I get appreciation great if I don't I'll just pay off mortgage over the years and just retire on cashflow 30 to 40 years down the line.i rather manage and hustle for more cashflow.

Hi, My name is Narsing Arravally, a recent immigrant from India(3 years ago).I moved to Peterborough for lifestyle reasons after buying a house.

That's a "normal" middle of the road lifestyle.

You'll want to position yourself to get healthy cashflow, so that the rental income increases your income (on paper) that a lender looks at, so that it's not decreasing your qualifications for a new mortgage.  

And I can tell you I know many high producing agents that own some real estate but its the high annual income that they receive year after year that affords their life style they dont run that lifestyle on 200 a door rentals. 

First post here after lurking/networking behind the scenes for last 1+ years.So here's the context of my question:My big ambitious goal is to have a property portfolio of $10,000/month in cash flow 4 years from now (I estimate that means control of ~40 units or acquiring 1 unit every 1.2 months or so)These would all be out of state buy & holds, where I'm obviously focussed on maximizing cash flow (SFH or MFH)I have a full time job that pays low 6 figures (so I have roughly ~20hrs/week to give to my investment goals) and no current rent/mortgage or other liabilities aside from feeding myself (I've done this intentionally for this 4 year sprint towards financial freedom).I have up to $50k to invest right now (and another $100k if I dip into 401k which I've contemplated doing), but as mentioned have a healthy savings rate given my circumstancesMy preferred route for now are properties that can be acquired at less than $150k per unit (so I've honed in on the usual suspects of states: WI, OH, IN, FL, MI etc) and from there I look for cities with more than 50,000 people that are either growing are have stable population, decent employment opportunities, relatively low crime, etc).I also have a bit of a desire to not go where I know everyone else has been circling for some time (Detroit, Cleveland/Akron, Dayton, etc)So given all of this and my lofty goal of acquiring a property every 1.2 months (unless I'm thinking about this wrong), my question is this:How many markets are too many to build and maintain a deal pipeline that helps me achieve this?

It sounds like with your current lifestyle a LTR would work better for you but that is a choice you have to make on your own!

Things will obviously settle down once we complete a few more projects, but in general, unless you are buying a newer home or one that has been kept up meticulously and everything about it is otherwise perfect, you can expect to spend a good amount of money the first few years.With that said, I think a lot of this is more a lifestyle decision and will also be determined by how long you plan to stay in that home.

I'll need to do quite a bit of work to get this property back and healthy.

Only in areas that are bringing in more money for tuition (such as private college/universities) would it be considered advantageous to ‘compete’ with a few upgrades (basically keeping renters closer to a lifestyle in amenities they might be used to)Perks here are -Minimal ‘basic needs’ updates only needed most of the timeRent often paid by someone else (first bank of Mom and Dad in a lot of cases)Never really a need to market property/have scarce renter poolA lot of folks are worried about the lack of credit history with student renters, worried about property damage and this is the key to help with that;-Add the parents/legal guardians to the lease and screen their credit/background just the same as any other renter-Get the maximum allowed by your state in terms of security deposit -Have utilities paid by renters (this lessens the likelihood of seasonal utilities being out of control)-Use an app/online payment system to ‘remind’ of payment due/accept payments automatically (like AHC deposit)-Use an online (or even via text on group with co-signer) to report damages/issues-Use this same app or text thread to respond to anything abnormal/red flag likes noise complaints, too many overnight guests etc- keeps a ‘report’ in to parents as well and can be used as leverage for offering ‘responsible housing’-Offer a GPA discount; this sounds silly maybe but it takes responsibility to make good grades and carry a higher GPA.