You could purchase a property with 9 beds that is fully themed out that is grossing $150/year or so.

If your reno is longer than a couple months the carrying costs will eat up that gross profit.

I own this own now for almost 4 years and it grosses almost $6k/mo. with around $2000-$2500 in cash flow.

Taking away the garage from the existing tenants will lower the rents on those units.Currently they are:4 bed 2 bath rent = $2,000 3 bed 1.5 bath rent = $1,600I think the 4 bed 2 bath is the one with the partial conversion, and three units might look like:3 bed 1.5 bath = Rent $1,500 (no garage)1 bed 1 bath = Rent $1,1003 bed 1.5 bath with garage = $1,600Don’t be misled by the 6.6 cap rate in the listing, they are just using gross rents which is incorrect. 30% (25% expenses and 5% vacancy is standard in our market), and this is really a 4.7% cap rate.

Them next thing is to make sure your debt to income ratio is below the max % 46.9% for the front debt to income ratio (mortgage payment divided by your gross monthly income) and 56.9% for the back end (mortgage payment plus all other monthly debts divided by your gross monthly income). 

I own this own now for almost 4 years and it grosses almost $6k/mo. with around $2000-$2500 in cash flow.

We are now producing over $200k year gross income with $83k debt service.

I ask because I don't see many listings online that don't include much detail...and wondering if I should.All 18+ applicants must complete the application and pay the application fee.Credit score of 700+, No bills in collection.Steady employment or other acceptable source of regular income for 3+ years.Gross monthly income at least 3.5 times the monthly rental rate.Monthly payment Debt-to-gross-income ratio no higher than 40%.

AirDNA shows potential earnings of $79k gross per year.

In this case, the PM is only responsible for wilful misconduct which is commonly referred to as gross negligence.