I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.

Lease Terms: Determine a monthly rent payment that covers the HELOC repayment (interest and principal) while providing some positive cash flow for you.                    

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Depending on how close you are to Philadelphia you can really manage the property yourself as many Jersey neighborhoods are even closer to philly than some philly neighborhoods.

Private equity firms seem to favor larger operations with scalable systems, while smaller mom-and-pop firms are often acquired by local players or regional operators looking to expand their footprint.If you’re looking for actionable intel, reaching out to brokers specializing in the sale of PM firms could provide useful leads.

Having the contractor relationship in place to move quickly and provide a high quality renovation at a reasonable price.

So, you are working through 2 decision makers, not one.A Realtor can really provide you value in a transaction....especially your first one! 

After that, it may depend more on the workload of the inspector.

So depending on how much you pay for it, you can assess your cashflow.

IRS definition of a dependent.To claim a child as a dependent, the child must be under 19 or under 24 if a student.