The one percent and 2 percent rule ive never looked at ... cap rate is .. meh .. its there - what im most concerned with is the price of the home relative to comparables and cash on cash to start.   9)  I look  the other way if it is a multi unit that is not separately metered - thats always one of my criteria here in pgh as there are a lot of older homes and a good portion you wind up worrying about who will cover utilities.  

As far as payment, all I wanted was my time covered and I charged a lousy $100 a month.

If rents don't keep pace with inflation, you won't have enough funds to cover these inflated prices.Rents and prices are driven by supply and demand.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

If it costs $500 to fill the oil tank and the tenant leaves it empty, that's $500 less you have to cover unpaid rent, cleaning, and repairs.

Quote from @James McGovern: I am interested in purchasing a few condos in Florida and want to understand if there are any insurance products that cover the rising cost of HOA assessments? 

There is usually one for each State/Couty and a few Government DPA's that will cover down payment and closing costs as well.

One that I don't think has really been covered is that most people are going to buy and/or sell a house, at most, perhaps 3 or 4 times in their lives.

But PadSplit does not handle maintenance and any member communications, our management covers that. 

Loss of income is another coverage that you will probably want to cover any period of time you can’t rent out the apartment due to a covered loss.