Our total Op Ex is about 40%, so I agree 30% is low. 40% seems about right for our size and age (17 years) property.

Market rents for 3B 2B are around $4.2K, but I will update when we have a signed lease.From my knowledge of the Cambridge market, it all depends on your location in the submarket to determine rents (Ex.

Her ex was a diy guy that has a lot of partially completed projects.

So my cash flow for the first year is not very great (after PITI, vacancy, repairs, cap ex, and management is $110) but after a renovation after the first year, it will be around $300-$350! 

I tried something like this with a girlfriend who is now an (ex) and got burned but I think the personal relationship was the mistake in that deal.  

I sorta know his ex-wife and son. 

So one for cap ex, one for maintenance, one for vacancy.

@Allan Smith He's taking what it's going to cost him for individual cap ex items and dividing it by the period of time until that expense will be realized. 

In fact after the owner of it (a husband with PTSD -- this I do not doubt) left and abandoned the cat with the ex wife (they divorced) it suddenly became the wife's emotional support animal.   

Ex: after _______  (cap) paid to broker in a 12 month period you should be keeping 100% of commission.This is something often overlooked by agents.