The rate is generally higher than capital gains and it just eats up a significant chunk of net proceeds if you've been holding for a while.I just shake my head when I see all these newbies proclaiming stuff like, "I just bought 10 units in 10 months" or whatever, particularly if it's in historically flat markets like the midwest. 

Roaches cannot resist the bait they eat it and then return home and die and when their friends (cannibals) eat them, they die too.

Then I have resale costs & holding costs that eat up a good portion of that leaving about 10% remaining for profit.

It was suggested that the undercutting of prices from competition, mileage, mailing, printing, paper, toner and scanning, along with the cost of the LSA course, printer purchase and insurance, would all eat into your income, whittling it down to about $10/hr.Have any of you found this to be true?

It was suggested that the undercutting of prices from competition, mileage, mailing, printing, paper, toner and scanning, along with the cost of the LSA course, printer purchase and insurance, would all eat into your income, whittling it down to about $10/hr.Have any of you found this to be true?

It was suggested that the undercutting of prices from competition, mileage, mailing, printing, paper, toner and scanning, along with the cost of the LSA course, printer purchase and insurance, would all eat into your income, whittling it down to about $10/hr.Have any of you found this to be true?

Forget asking for your money back and call a lawyer to sue the contractor if it’s for more than $5-7k, if not the lawyers fees will eat up all you are trying to recover.

When you have lower rents (I keep everything about 1k/m to attract a certain tenant, but this is in Chicago where rents are skewed upwards) that 3k unexpected expense eats up a larger percentage of the rental income and can wipe out more months than a higher paying rent in a B class. 

With the slim margins, capex will eat you up. 

I know this has been renovated, but with such an inexpensive property when something does need fixing/replacing, it's eats into your reserves pretty hard.Similarly, I'd budget something for initial repairs/upgrades.