Here is my amateur advice (so take it for what it's worth):
Your purchase price is @ $300k and if this is an investment you can expect to put down about 25% or $75,000 as an investment non-owner occupied. So we will say you will finance $225,000 @ 6.5% interest for 30 years.
Your monthly payments will be:
Monthly principal & interest = $1422
Monthly Insurance = $100
Monthly taxes = $484
Total = $2,006
According to the 50% rule, if you are getting $3,800 per month for gross rents, you divide by 2 (to factor in repairs, maintenance, etc) which leaves you $1,900 to pay operating expenses and the other $1,900 to pay for the monthly P&I which is $1,422. That would technically leave you with an estimated $478 per month cashflow for 3 units ($1,900 - $1,422). Investors typically shoot for between $100 and $200 /month cashflow PER UNIT, so this cashflow itself isn't necessarily bad.
Of course, you may decide to manage this property yourself which can decrease management expenses and therefore increase your "cashflow".
It also depends on how many major repairs are needed to this property if any. Either way, you should factor these items into your future costs.
If you are only netting $478 per month / $5,736 per year cashflow, it will take you about 13 years to pay back your initial $75k downpayment investment. That doesn't sound like a good investment to me.
What do you other investors look for as far as a "payback" of your downpayment funds? I would assume most investors probably want to pay themselves back on the initial downpayment in 4-5 years or less although I could be wrong. This is also a personal choice.
Hope this helps.
