Investing in rentals / short & long term

[Robert Griffin]

Here is what I am thinking of as my first step in increasing my portfolio:

Purchase at least 2 suited properties (or duplexes) for $800,000 (or less) (cost $600,000 after 25% DP)
Rents in my area will be between $4,000-$6,000 ($48,000-$72,000 per year)
Interest cost $2,000 ($24,000 per year) at current rate (assuming interest only LOC)

So I have potential net of $24,000-$48,000 per year (less taxes and insurance)