I’ve only found one that gave a fixed rate loan, but closing costs on a $60k refi was $4,500, which seems wildly high.

As for estimating annual gross, it varies so wildly from property to property.

It's the Wild West out here!

Would love to hear if anyone thinks these numbers / assumptions are wildly off or too conservative.Acquisition CostPurchase Price = $200,000Closing Costs (at 2%) = $4,000Due Diligence (at 1%) = $1,500Up-front Renovation Reserve = $5,000Total Acquisition Cost = $210,500Financing:20% down payment = $40,00080% loan (likely a major lender, traditional 30 year loan) = $160,00030 year term @ 3.2% (educated guess with very solid credit)Monthly Expenses:Mortgage Payment = $691.95Property Taxes = $120Insurance = $55Property Manager (soup-to-nuts) = $159Other Variable Monthly Expenses = $40Capital reserve monthly deduction = $37/month (5% of net income withheld for capex)Assumptions:3 months to renovate / update post acquisitionProperty rents for $1,400 / month (and assuming a 3% annual increase)20 day vacancy assumption = 5.48% vacancy rateTenant takes occupancy month 3Annual expense growth rate of 3%Expected / Target Returns:Monthly IRR (w/ financing) = 15.48%Monthly cash-on-cash return (average over 5 years) = 2.79%Monthly Net Operating Income (year 1) = $798Capitalization Rate = 4.79%Kyle

Cash flow is not known for sure but I would take a wild stab and say the mortgage on $155k and some default cost percentages would put your cash flow at $750/month total at ARV. 

@Eric Bilderback -- China's new economy is a fusion of the communist power structure plus wild west robber barons layered on top of each other, with a huge dose of mafia-style organized crime behind it, except the criminals are all in or connected to the government. 

It definitely was a wild ride the first month I was extremely busy and the market was competitive.

I've been fascinated by laundromats for some time, but there's such a wild variability in both the gross and net that it's hard to generalize.

In my wild brain, I'd like to also understand land development. 

Prop Tax's some of lowest in the country for fully service properites  IE WATER SEWER Paved ST.. schools etc.2. on going maintenance  desert scape   No lawn going wild like the mid west. 3. lack of water intrusion  4.