I cant figure out what i'm missing.

2000 - 450 fees - 1530 mortgage (144k at 5% for 10 years) = not much for you: $20/month  I didn't throw in taxes or insurance.Now if your short term rental income promises to be quite a bit higher than the 2000/month, then it could be a better deal.Did I miss anything?

Yes, life happens and I just don't want to judge them by couple of past collections/missed payments and that I why I wanted to hear from you guys experience.

Related to hot market: although you could wait for market to slow… you will have missed income during that time as well as appreciation that may happen.

What am I missing?

Are there options that I am missing?

@Rob NewsomInvesting in a state with an income tax may require you to file a non-resident state tax return with that state.States normally try to avoid double state taxation by providing a credit for taxes paid to other states.I would say - look to invest where the numbers make sense based on your critera even if that means looking in a state with an income tax.There are 7 states without an income tax - with your logic, you are missing out on investing in 85% of the united states.

@Douglas Spence I would rather drink all night and play call of duty while blaming somebody else for my poor financial situation!

One studio ($375/month), one 1-bedroom ($515/month), and two 2-bedrooms ($695/month each)Total gross rent: $2,280Morgage ($550) + Tax ($300) + Management ($200) + Repairs & Saftey Fund ($200) = $1,280So from my understanding, I'm going to make about $1,000/monthAm I missing something?

Are there options that I am missing?