No, I don't have a local PM so that would have added another unknown variable and expense2.

We are ok with making calculated risks with our money, but when you introduce other peoples' money to the equation as a variable it can get sticky.

Unfortunately, ther'es no guarantee, because there are a lot of variables at play here.

Your biggest variable is going to be prop tax, and it changes from street to street. 

There is too man unknown variables with land entitlements that we do not want that liability for.

The catch with the estimate is you may be wildly off since it's a new home and you don't really know what those bills will be until you've lived there a year (seasonal variability). 

(If curious, my residential real estate investor clients from 10 years ago [you can find my 10 year old bigger pockets dot com posts :], at the time buying up 2-4 unit properties, a lot of them are now done with the 'human' tenants and want to 1031 into something that is ACTUALLY passive, so yes Starbucks comes up, thus I watch it).In my case I zoomed all the way into a specific brand (which then allows me to make very sweeping generalizations across an entire state -- but still not the entire country), I'm not suggesting you do that, but SOME of the variables need to be narrowed down, before you can gain any useful insights. 

Hi Sergio, I think there are way too many variables to be able to gain any real insight from responses here.

For making such an investment, you have your team build up.You can always do it yourself, but there are a lot of variables that you have to consider.

There are too many other variables to consider...