However - when your lease expires or the tenant moves out after 12 months - the cost to get the property rent ready is avg $1 or 1.50$ per sqft (900 sqft unit) or something I provided in example below- so that is around $1000 to $1500 in rent ready expense. so literally I am only making $1500 on a unit in TN. also I forgot to mention - add in couple of maintenance calls @ $100 each (labor+parts) which will eat up your income further down. so on the paper I made only $1200/year cash flow on one of the units. not trying to discourage but no one gave me this detail picture(dollar to dollar) when I started out.

One of the things that continually makes SE borrowers unbankable is taking every write-off possible and optimizing your taxes as a result of bearing the burden of employment. 

Both are indispensable for understanding the rehab portion of flipping, and J also gives good guidance on finding deals.I would also recommend Mindy Jensen's How To Sell Your House to understand the full process of optimizing the sale process, which can also help you in the renovation process as you better understand the prime path to selling the home.

It's all in the little things and while these are easy to optimize they are overlooked so often.

If it is a unit turn get a flat labor cost for him to turn and then pay cost of materials.

Optimize your return.

I also have worked with the military on placing new families and transfers, and can offer you some tips on where/how to post for roommates so as to optimize the existing vetting in place with the military, if you want to go that route on tenancy. 

Unless the other 2/3 of your assets can support you, it may not be an optimal choice.

The nice thing was that the labor for all of this work was inexpensive. 

Optimized this should bring over 1800 a month with very minimal capital expenditure.