Need financial advise as far as budgeting for repairs

[Paul Christian Mendoza]

Trying to find out if my figures are correct for rehabbing and renting out a single family home in the Muncie Indiana area

[Roger Pokorny]

@Paul Christian Mendoza your numbers look a little low. P&I will be $100, tax and insurance will run another $100. I plan $50 for repairs. Then you need to think about vacancy, uncollectible and capex. Vac/Uncol at 10% and capex of $100 has you at expenses of $425. Property management will run another 10% if you don't manage yourself. All added up you're at $500 minimum, giving you about $200-300 profit. I'm questioning what you're going to get for 10-30k and whether 10k in repairs will be enough. I typically look for 3/1 SFH but a 2/1 would run more like 30-50k from what I've seen.