I've also completely changed my outlook on what's a "necessary" expenditure vs an "unnecessary" expenditure in efforts to rethink the outlay of money I spend, so I can save as much as possible...it's slow going.

If you're in the 30% tax bracket, that's a $16 savings, putting your gas expenditure at about $25. - Insurance: I'm a licensed contractor in Maryland, and I carry $1M in general liability.

Also 20% reserves for capital expenditures and enough additionally to cover 6 months with 0% cash flow before dipping into my 20% reserves would be required.

I realize that for certain investors condos are a niche they like to play, personally I see too many uncontrollable variables and constraints with little upside, control or in many cases appreciation opportunities.With little control over a HOA that inevitably raises fees and charges periodic assessments that are likely expenditures you would not prefer or receive any financial benefits are inevitable in most cases but surely cut into your profit margins, plus these associations can make renting more of a tedious task than necessary.Also, the upside for any rehabs or overall appreciation will be directly tied in to the entire complex.

., my family's money) on that kind of expenditure.

The assumptions are totally bogus......they have no expenses for repairs, maintenance, replacement of major items(capital expenditures), vacancy, tenant damages, management, etc.

In your analysis and setting of metrics, do not forget to make sufficent allocations of net income to capital reserves for future capital expenditures (roof, HAVAC, sewer line replacement, etc).Welcome aboard and best of success to you.

Advances made by a Mortgagee are recoverable expenditures, further reducing the true impact of a past due tax bill.  

I didn't see a line item for capital expenditures - setting money aside each month for things like roof replacements, new furnaces, major renovations, etc...  

@ @Jay Hinrichs undefinedYikes we covered a bunch of ground.The reason many investors went bankrupt was a combination of 1% properties,  leverage, a recession, sinking property values, and capital expenditures that came up early in their ownership.