You'll typically have a lot of tenant challenges not to mention that you're maintenance and CAP Ex expenses will be a much higher percent of your gross income due to the fact that it costs as much to fix a leaky faucet or replace a furnace on a property renting for $900 as it does on one renting for $600.

What Market Are You In : DallasHow Long Have You been Sending Mail : About 1 yrHow Many Pieces per Month: 2,000Yellow Letter/Postcard/Other: Similar to a letterList Criteria: Driving for Dollars List / Absentee over 40 w/50% equityList Source: List SourceDeals per Month from DM: .33Average Gross Profit per Deal : $12,500Thanks Everyone!!!

Total gross rent = $1050 per month. 

They must be distressed, list price to gross monthly rents ratio must meet the 1% rule or better, and they must be able to currently Cash Flow $100 per unit using the 50% rule.  

Below 580 the down payment is 10%.DTI ratio limits. 31% Front end/45% back end.All income sources (gross amount) will be considered as long as you can show proof they have existed for 2 years as @Keith Kellermeyer stated.  

That being said, depending on location/seasonality I like to assume that a hot tub can increase year end gross revenue by ~5-15%.

That is a gross of $9350.

The other school of thought is to hire an experienced property manager on a contract basis, typically 3-5% of the gross receipts of the property, and let them take care of the day to day while you (the asset manager) are reviewing reports, setting and tracking budgets, and doing the overall planning for the property.

In fact, gross rent (before expenses) aren't usually $2000 on such a property....that would be rent equal to 4% of the purchase price....however, that'd be a screaming deal if the numbers shake out.

Recent article in Dallas business journal states Dallas is among the worst markets for flipping at a paltry 29% gross return on investment for the past quarter.