Baltimore Maryland

[Andrew Bertram]

I am looking to be a buy and hold investor. I own one property (former primary residence.) Belcamp, Maryland 21017 Suburb of Baltimore, Maryland Semi-unique situation because proximity to Aberdeen Proving Ground (military base) provides a reliable source of quality renters Least expensive rentals in area available are approx. $1150/month for 1-BR 1-BA apt Purchase price= $165,000 Current appraisal = $170,000 Interest rate = 4.125% 20% down P&I + Ins. + taxes = $853/month HOA = $66/month(paid by me) Property Manager = 7% ($98/month) Rent = $1400/month I understand that repairs are an expense and that the possibility of vacancy is as well (more worried about the property management costs to find a new tenant). I am looking for some help looking for a good way to calculate expenses. I am pleased with what I perceive as positive cash flow but dunno about if that is accurate. I definitely want to get this down before I expand my business. I am terrified by the 2% rule since in my area following that means buying properties in seriously bad shape in seriously rough areas.