Once you have these numbers, it will be easier to evaluate and shift through deals. 

Depending on your situation, best way in is to house hack a duplex or SFR with an AirBnB angle (present craziness aside).In terms of next steps, get yourself an underwriting template and practice evaluating deals you see on the MLS.  

@Peter KortyFor my basic evaluations I start with $200/month for a new(ish) duplex or SFH. 

You find a deal, quickly analyze it and know that it meets this base criteria, you send it over and now you have significantly shortened my evaluation period. 

Confidentiality: This proposal is confidential and neither its existence nor its substance may be disclosed to any third party, except legal or financial professionals engaged to assist in evaluating this proposal, or where disclosure is required by law.

There are two different evaluations for a house...for a homeowner, and for a REI.For a REI it depends on what their exit strategy is, and how they got control of it...their entrance strategy. 

Your bank may also have additional hold days which could cause a further delay.This change is temporary, and we will continue to evaluate and will revert back to your regular hold times as soon as we can.What do you need to do?

Do not use that number to evaluate the market rent for your property.  

It is like a ponzi scheme and someone in the end won't be able to sell.As a result, I spend a lot of time evaluating the property during an inspection phase. 

I would go 50/50 on the first home going into closing with roles defined and then leave time re-evaluate the equity split after finding a tenant.