Considering building a fourplex, how much could I expect to make

[Chris O'brien]

I live in a small town in Maryland that has a big shortage in apartments. I want to start out buy building a fourplex using 100% cash. I want to build 2br apartments which I expect to bring in $1,000/month. If everything goes perfect for a year the building could bring in $48,000/year. Let's say taxes are $6,000/year. How would the rest of the expenses go? I'm assuming the 50% rule can't apply to a brand new building.