Buying criteria for rental properties St. Louis metro area

[Sam Compton]

Hello all,

I am in the market for my first rental property. I use the BP calculator for rentals on almost a daily basis. I know the market is tough right now. Its seems nearly impossible to find anything on the MLS that cashflows.

I have been allocating the following for expenses

5% vacancy

5% Expenses/repairs

5% cap x

10% property management

Then the usual PITI

I feel like these are the numbers I should be using and should stick too, but wanted to hear from others in the area who are actively buying.

Let me know what you think?

Thanks,

Sam