Agree with @Gorden Lopes - you will not find the 1% rule for A/B properties in Huntsville/Madison right now unless you score a unicorn of a deal, or put up an enormous down payment to force cash flow.Even C properties right now are not easily 1% rule applicable.  

Taxes, insurance, pest control, utilities, software, etc comes out to around $13k per year each for my 2 bedroom cabins.Also unplanned capital expenses will add up.  

I am looking for recommendations for a software to help me with wholesaling and flipping.

I've been in software development for over 15 years and leaving the 9-5 to stay home with our son.

3) What discussions have you had with your PMC about HOW they screen applicants? 

I use QuickBooks for our accounting software, and it has a built-in millage track that I use. 

What software?

There's other expenses like taxes, prop mgmt software etc.Total operating expenses for the year come to $32k.

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 monthly, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow. 

While this sounds like a win, the number of cases where it is feasible are few and far between. 1) There is an application and approval process required by the bank for the loan to be transferred.