Buying Rental Properties - What To Look For

[JT Taylor]

I'm a new investor working on my business plan. I'm in the Dallas-Fort Worth market, specifically Hurst, Euless, Bedford, North Richland Hills, and I'm wondering what numbers to look for in rental properties. I'd like to get cash flow of $300 month after all expenses, including property management, vacancy reserve, maintenance, mortgage, taxes and insurance (did I miss anything?).

Is that possible/realistic. If so, what kind of numbers would purchases on a typical 3/2/2 need to look like?