At this rate, you would need to put down 35-40% to break even in terms of monthly cashflow, with a slight cushion for some minor repairs and occasional vacancy.Another challenge is the acquisition cost: typically $200k per door, which could go up to $300-350k/door in desirable upper-middle-class areas.

I’m tired of breaking my back doing dentistry to pay bills.

After property tax/insurance/HOAs/10% repairs/other expense I should break even. 

Time to break out of this shell.

Made the mistake of paying my contractor large sums around Christmas time even though he hadn't met deadlines because he gave me a sob story about needing money for his kids' Christmas presents, big mistake.

So sometimes you just can’t get a break.

@Jeffrey SmithThe answer is, make sure you record the transaction and get the deed/ title.You get the tax break because you own it

If you're concerned about late or missed payments in your market consider incentives to make sure payment is received on time, a minor discount, 12 months on time payments = a gift card at Christmas, etc, etc.Also check your local laws when it comes to fines and specific 'grace periods', you may not have much of a choice in the matter.Good luck!

We typically don't sell cash flowing assets but this created a nice more passive income stream.If you can live in the property two years to take advantage of that tax break, that may be a better long term option for you.Would this be some kind of wrap mortgage if you move forward?

So break down his selling price to price per square feet.