Beginning Rental Property Investor needing Advice

[Landon Lee]

Hey everyone,

I have been listening to the Podcasts, reading forum posts, and using other educational resources and tools on Bigger Pockets for the past 3 months or so. I am from central Arkansas and feel like I am prepared to begin investing in rental properties. However, I am having trouble estimating monthly expenses for the rental houses every time I analyze a deal. I am able to find the tax information and mortgage information, but the expenses that aren't concrete are throwing me off. I tend to be a little over conservative in my analysis, so as to ensure that I am getting a decent deal, but I haven't analyzed a rental property yet that cash flows. I have even analyzed homes that are being auctioned, and have used very low purchase prices. I realize that not every deal is good, but I feel like I am drastically overstating these expenses, and am eliminating any possibility I have of finding a good deal. Is there anyway that I can get some assistance in determining appropriate expenses, or at least a point in the right direction for figuring that out?

Thanks!