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Expenses with parental property
Title: Expenses associated with rental property
I have been trying to determine what profit I would have left over each month after bills were paid for a rental property. I have yet to buy so I want to have a god idea of what's to come as far as bills go so i can get into my first deal. Below are the expenses I believe I must account for when evaluating a rental property. Please tell me if there is anything I am missing:
Fixed Expenses:
electricity / water and sewer / PMI / garbage / insurance / property taxes
Variable Expenses:
vacancy % / R&M / CapEx / Property Mgmt.
Any suggestions as to what are good % to use when determining the variable expenses?