We manage many condos that rented between $3,500-$4,500 and the owners barely having a positive cash flow because over 25% of gross rent is going into the HOA.I would look into the mid west area with your current capital and hire a property management company which will take around 10% off your gross rent but be sure to do your due diligent.

Does anyone find it helpful to just put away 50% of the gross rental income you receive into a separate bank account and only touch it for upkeep and expenses?

In my (very conservative) analysis, this is a slightly negative cash flow property (like $10-50/mo) - but my costs estimates are usually way higher than just about everyone else I see on BP (I leave room for 65-70% of gross rents in expenses).I, like you and some other posters, am somewhat nervous that we are closer to the peak of a cycle than the trough.

This applies to employee/employer relationships as well.

Found an 1823 log cabin hidden under a 1920 farm house I boughtWW1 Pistol in an attic1950's girly mags hidden in a wall.Architectural drawings of TVA damns from the 40'sAll the std gross items

This means that for lender to make sense to go through all of those steps the ultimate loan amount would need to be over $1,500,000.In terms of the commercial ground floor, there are several programs but the most popular that you would use for acquisition (223(f)), allows up to 25% of net rentable area and up 20% of effective gross income to come from the commercial portion.To keep the summary above brief, I assumed that the conditions above are a starting point for most properties, when certain other conditions are present for example if the property is "Affordable" the LTV can go up to 87% or 90% for projects covered under Section 8 HAP Contract.

The Florida LLC will have the employees.

If the IRS were to look at that clause in a contract, they may determine that this "contractor" is actually an employee -- one of the key tenets of independent contractor relationships is the freedom to delegate and sub out work.  

Are an employee or is it your own wholesaling business?

Don't get in a hurry to buy, RE moves in cycles, but it is always changing, prices move slowly but there are always distressed properties, that doesn't mean some junker, deals can be had at all price levels. 800 gross rents gives 400 PITI, 75%, 300 goes to P&I on the loan.