Yuvaraj Vimawala A market like Austin is tough because you’re probably paying premium prices, which is the trade off for having premium rents and premium appreciation. If your goal is to retire from your regular job would you be taking the management over yourself or would you still like to have the properties professionally managed? You ought to be able to manage 24 units on a part-time basis and still have a lot of free time if you took over the management. I guess I would look at what you’re spending on management fees, what you pay that law firm to fight your tax appraisal (you should be able to review their work and duplicate what they’ve done at this point?), and figure how much lower your expenses would be if you were managing it yourself versus the management company handling everything. (not implying that your management company is doing anything wrong… That’s just the reality of having property manage versus self managing) When that dollar amount all totaled up replaces your income from your regular job you can retire & have a part-time job managing your own property. If you have no desire to handle the management yourself then you probably answered your own question in your post. In my experience the best way to ensure cash flow is at the time of purchase, by getting stuff at a bargain price. Unfortunately that’s just not the reality in Austin right now because everyone is clamoring to buy properties and from what I’ve seen people are paying some ridiculous prices that I can’t even fathom. Feel free to PM me if you would like to toss ideas around further. I’ve been doing what you described for the last 20 years. The main difference is I self manage and I also do third-party management for other people so I know that side of the equation, too.