Your cash flow numbers are really tight You may want to increase down payment to get more cash flow on your new acquisition In my last acquisitions in Memphis I bought at ltv50 and expect to pay them off in three years

Also regarding STR;   when you get to 3 people arriving, three people with questions, three cleaners and inquiries on top of that it is NOT passive income. 

In addition, they want and need answers to their questions in a timely manner, not some e-mail address to send to that will get back to them in 24 to 48 hours!

So these three terms are all interrelated; Market Value, After Repair Value, and Appraised Value. 

That , together with the pink stuff after, will stop the itch for 8 hours or so and you can sleep all night. 

Control and eventual ownership of one and three quarter million dollars worth of real estate, for just seven thousand dollars down, is worth a look in my book.Especially when the fundamentals suggest that your tenants (paying you 1% gross per month) would be paying all its ongoing expenses, mostly! 

Currently I work 35 hour desk job with good benefits so it makes my two hour commute (daily) worth it... for the most part.

I see too many investors applying these words, "it can't be done", to many things that can be done...you just have to understand the 3 most important aspects of every RE deal...successful and not...and all three are equally important, and depend on the other two for success:1 - Market Analysis:  Don't focus on the property...focus on the market. 

For reminder texts, it is also beneficial to have them confirm they are coming an hour or two before.

They are graduating from college in May from Illinois State, and I want to send them a lease via DocuSign since they all live 3 hours away.