i wish i had better news for you but it's probably not feasible in the short term to replace your W2 income with rental income. 

If I'm paying $150 to turn a rental, you would probably have to be sub $100 for me to give you a shot.

Thanks Jaycee,I think to start I am probably looking at a single family just to get my feet wet.

maybe... but you probably won't get a 'great price' in a random out of state market just by looking on Zillow like everyone else is. 

I've used probably 6 different managers in different markets and only 2 have been good.For me, the cleaving question is, "Can you make more than $50-$75 an hour doing something else?"

You've probably heard of big Landlords losing property, but only because they were flagrantly violating Fair Housing, running a slum, or otherwise violating the law in an egregious manner.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Each one you find probably has 10-30 DSCR lenders they work with that can do this.

For instance, your bathroom picture is so close up that it looks even smaller than it probably is.

My assumption is that people who qualify probably have other options, like PPMs with groups they know, syndicators they know, private funds and other vehicles that may be more lucrative.