A decrease in income... and motivation to move forward!

I knew it would happen eventually. I have had a roommate renting a room from me for almost 2 years now and she has is moving out. This creates a decrease in income and will slow my progress towards my goals. I am now working on a solution to help replace the lost income.

I am looking to increase my side work fixing computers as much as I can. This will help but is not consistent. I have essentially cut my expenses as far as possible so there is not much room there. I am now looking at potential rental properties. I have been pondering the idea and now have motivation to move forward.

I have found some places that look good. There is a risk with becoming a landlord and that is a risk I am willing to accept. I have a comfortable enough emergency fund to make a move. By my calculations 1 rental property that I am looking at would replace the lost income with a tenant. I want to move into more of them while prices are low on houses to keep the margin up. This is one way to create passive income for myself.

I am looking closely and the numbers and am moving carefully. I need to first one to succeed so I can move forward with others. I am researching all that I can to be knowledgeable in all aspects of being a landlord. Financial and legal concerns have to be satisfied. More to come...