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. 

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

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

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.

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

What software?

In the end I dont know who is really dealing with my property for me to talk to.Looking at the experiences from initial couple of weeks, I grew suspicious about the quality of the company I am dealing with, so I read about various reviews I found online about this company and I can confirm many of the bad reviews I read online.After several weeks of scheduled and cancelled showings, last week they came up with a group applicant with low credit score ~600 saying they check out fine with their system and hence we should rent it to them.

This is assuming the rental has been on the market for a while, is priced competitively, and the asset is in good condition.If you aren't getting enough qualified applicants, you can adjust 2 different things; the qualifications or the rental amount. 

If so I'd recommend looking at RentRedi, it's free for pro members and it has a free prescreening application, and also does credit and background checks through the platform that the applicants pay for.

I do not have a sheet but I typically budget $150 for lawn, $150 for pool if applicable, $100 for cable, $100 for water, $300 a month for electric (depending on property size and your local utility costs), $50 for pest control, and another $200 per month in misc.