I did some calculations before, and found out if a person own 3 or 4 houses, townhouses, or condos, then the person can probably retire.
That's including living in one house, and getting rent from 2 or 3 houses, and paying the 1.2% property tax of all the houses each year.
So that means if a person sells a house in the San Francisco Bay Area, and is able to use $1 million to buy 3 or 4 houses some where else, for $250,000 a house or $330,000 a house, then it is fine to retire.
However, what if after tax, there is less than $1 million, but suppose if it is 80% or 60% left, will that be sufficient for the bank to lend you money to still buy 3 or 4 houses? That's considering there is only rental income and no other income.
If the loan amount has to be 20% - 40% of a million, the initial amount able to be spent each month as living expenses may be little, but hopefully, after a few years, and 10, 15 years later, when the prices of the house go up 50% or 70%, or even 100% or 200% such as near Seattle or in the Bay Area, with the rent also higher, it will get better.
Is that possible? If it is fit into the Bay Area scenario, if renting out 3 houses can generate $4000 x 3 = $12000, and if 25% is mortgage, that might be $4000 a month, so $12000 - $4000 = $8000 per month of income, and if the property tax is $40,000 per year or $3400 per month, the income of $8000 - $3400 = $4600 would seem enough to live on. Does this seem correct?