Ok I'm very green - I only own two rentals and I'm trying to learn how to become a landlord correctly - trying to follow the Bigger Pockets books on being a landlord, so screening tenants etc. That being said, at this point $100 per door sounds crazy when you take into account all that can go wrong with tenants. Is it just me? If you have to replace the carpet, some plumbing, and then a few maintenance items, how are you making any money? Or, after all the repairs, vacancies and repairs, maybe your saying you clear $100/door. If that is the case, then what would the monthly cashflow be on a unit which is rented and has zero additional expenditures for that month. I know that will vary a lot on the property, but what percentage of cashflow do you assume goes to expenses, repairs, legal fees, and updates? To the OP, make sure you factor in being a professional landlord. I was not and now I'm spending 15K to fix a condo trashed by a long time renter and which also needed updates. These cashflow numbers only work if you do the managing correctly. That was a lot of profit I gave back.
To the comment made by Ben Zimmerman, I've made way more money on appreciation than monthly cashflow.
