You would also want to ask what is your current rate, what rate can you get, what are the closing costs that are involved including points, ect.

For example, in Michigan those additional expenses would include revenue stamps owing for two closings. 

This ranking includes reviews, photo, click, retention, policy, occupancy, price….

NOTE: Need to Know: Do the kitchen and bathrooms need updating (if yes, that cost needs to be included and your buy price needs to reflect that additional expense)

Be sure to include instructions for turning in keys, notifying you that she's out, etc.

Quote from @Sean O'Keefe: Quote from @Tom Gorrell: We have 3 rentals in CA and one in Kentucky (total value about 2.5 M)some W2 incomesome pension incomesome syndication income and some from a business (s corp) Based on what you say, it feels like $3k - $4k but would need more info on how frequently you meet with CPA outside of Jan - Apr when you are filing and if this includes tax strategy. 

Rookie question here - when you are talking about multi-family, are you generally talking about larger commercial buildings or also including small (2-4) unit properties in this analysis? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

As with any professions, real estate agents included, there are good and bad.

Make sure utilities are available, and that you have tap fees included in your estimate, as well as engineering (site plan), architectural plan, and other bits you might need to consider for your market (landscaping and costs of sale, for example).