First, just because you've manged several hundred properties across Memphis and have a perspective yours is not the only version.

Good for you mang. 

Have the management company mange the rentals.

unless you have 1 million to invest, netting 10k per month is going to take a  l o n g time. 40k will not get you a house, will get you to update a house or two at around $300 cashflow per month.there are many threads on here about getting to 15k per month, getting to 20k per month. lots of good feedback on there. i just gave you the quick explanation.

We mange units similar to what you initially describe. 

Quote from @Alex Ng: I'm looking to start a MTR business.

$8,100 cash out of pocket for closing costs and loan origination fee.Assuming 35% for expenses is very optimistic, even with you manging it.

OR come at it with a lower offer and have gas service hooked up (I'm assuming since you mentioned comps having NG that its available in the neighborhood).

@Rich Ng not trying to cause drama and I know they were not technically late when I posted that but I was just trying to get ahead of the possible situation before it became an issue.

John Bucksbaum, who succeeded his father Matthew in 1999, stepped down as CEO the same month, but he remained chairman.The company has hired law firms Weil Gotshal & Manges and Kirkland & Ellis to represent it, according to court papers.