It doesn't quite meet the 50% rule but I'm paying it off in 15 years instead of 30 and I could always re-fi or get a HELOC to get some of my cash out if a major expense like a roof or something popped up. 

Quickly realizing that it is very expensive to live out here, so it challenging to find properties that would pass the rule of thumb tests (50%, 2% rules, etc).

The 1% or 2% rule applies to when you're doing a quick evaluation to see if BUYING a property for an investment makes it worthwhile.

Some partners and I have also created an investment group looking to purchase our 1st (semi turnkey) rental property early 2017, so any and all investment advice is definitely welcome! 

The employment sector, while not as robust as it once was, has been creating jobs at a steady pace.

From there, I have my virtual assistant run comps, call the seller back, negotiate the terms, create the contract and send it to the seller for signing.Once we have an executed contract, my VA will schedule the inspection which is usually myself or my Sales Manager. we get pics and an repair estimate and we're ready to begin marketing.

A little about my goals: I want to pick up rentals until I can use the passive income to create a lifestyle I want.

Two: I feel as though I should be running the numbers like the 70% rule starting from their listed price...

However to keep order here we have some clear rules that must be followed.

However, I think I could simply rent out the other two rooms for about 600-650 a month to individual renters, so while the property isn't hitting the 1% rule, it does seem to make sense from a house hacking perspective.