what is considered a decent monthly profit?

[Joel Fohrman]

Hello!

I'm somewhat of a newbie, and looking to purchase a multi-unit rental property in the $300-$500k range via a 1031 Exchange in the near future.

Running numbers and it's looking like the best deals will net me between $800-$1k per month. Is that considered good, or should I be shooting higher here?

Any thoughts/suggestions/ideas would be very helpful. Thank you!