@Silvia Ladero Our SFM in Goodlettsville (15-20 minutes north of Nashville) cash flows about $220 per month after all expenses (PITI, 13% prop. mgmt, 7% maintenance, 7% capex, 8% vacancy). 7% capex may be a little high since we have a new roof and central unit. The house is fully leveraged since we did a cash out refinance before we moved out of it last year. It rented for $2000 last year, and we'll likely raise the rent this year. It appraised for $212000 in Nov/2015.
I want to give you this info in case you use Renters Warehouse: the property mgmt is only 13% if we have to place a new tenant every year. I know that's high, but they're very professional, plus we added eviction protection for $15/month. Renters Warehouse does not charge a set %. They charge one month's rent for tenant placement, and then $75 per month for prop mgmt. We actually just got very lucky: our tenants got transferred to a different state before their lease was up. So we're doing a "tenant exchange" where they keep paying the rent until we find another tenant, and they will be paying our tenant placement fee of $2000. Also, we have 0% vacancy!
