I’ve seen 1-2% of the home value used for annual maintenance /repairs/ capex, but obviously on a $19k home that’s not nearly enough money to maintain a property.

@Ashley Wolfe as of now I have been finding all projects internally but I could see bringing in outside funding for future projects.

The test states:To be an accredited investor, a person must have an annual income exceeding $200,000, or $300,000 for joint income, for the last two yearsDoes that mean that as soon as you are married, you need $300k income, not matter if you have one or two incomes.

For flips/short term you will be looking at 10-15% annualized return.

@Kent NielsonI think what @Thomas S. meant to say is cash-on-cash calculation wouldn't change as it is a ratio between Annual Pre Tax Cash Flow verse the Acual Cash invested.

-Work full-time at W2 job, ~$150k annual income -Currently owe $600k on mortgage, 4.00% interest rate on 30 yr fixed-Have large higher education debt, currently paying on Income Based Repayment (IBR) plan.

Also, consider getting an Umbrella Policy, $1-2 Million Coverage will cost probably less then $300  annually. 

When completing your DD get copies of the tenants leases, you must honour them however unless there is language preventing you from doing your annual rent increase it may not be too bad.

If so what is the usual annual rental increase?

Wonderful 20%+ returns annualized.