Many newcomers spend their first few years working under a sponsoring broker, and during that period, the broker often earns a significant portion of the revenue.

Network with experienced investors, choose a real estate strategy, research markets with job and population growth, learn financing options, familiarize yourself with property management, develop a long-term plan, and leverage your stock experience to evaluate markets and trends.Good luck!

What is your estimated rental revenue for LTR Vs.

For example, if the property you are buying is a development property, like a small house with a large lot in a developing area, then a small negative cash flow could be okay if you can carry it.

There are some major developments continuing construction, however; the price points are upwards at $290,000 or higher and rent rates being advertised at $2,000 a month.

Sure enough the rehab ran over budget (we had a large contingency that was used up -- some due to contractor malfeasance, some due to pulling the trigger on big repairs like a new roof) and the revenues were right around expectations, maybe slightly below.  

Hopefully, based on actual field measurements, past project data, and estimating software, your contractor can develop a detailed estimate that lays out the cost of labor and all materials for each phase of the project.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

They're not huge revenue drivers but guests appreciate them during rainy days or quiet evenings.

@Peter FirehockI live in the area inside the beltway and developed Oronoco and worked on Robinson Terminal South.