Take your gross revenue (the amount of rent and other fees you collect) and deduct all operating expenses (utilities, property tax, janitorial, lawn care, property management, etc).  

Breon Jackson "Do something everyday that makes you feel uncomfortable"In 7th grade I had a lawn mowing business with my best friend.

Also, I see lawn care but what about snow removal?

Once you jump into multi-family, including duplexes, you're going to start running into more questions like who's paying what utilities, who is taking care of lawn or snow removal, etc.

I have a 0.1 Acre property for sale in Old Town, Maine which needs lawn mowing every week or two until it sells and also a deep clean and coat of paint now that the tenant has vacated.  

I am sure the cost may go down if the group of homes is insured as a bundle, but i used this as a worse case scenario.Utilities and HOA:  Most HOA fees in this area include lawn care and trash removal.  

For example maybe the issue is not that the landlord is keeping rents artificially low but that walking on the living room floor is like walking on a boat and there's significant functional obsolescence throughout the assetLandlords do often keep their rents artificially low, but if you were a lender you would agree that someone throwing good money away is also a little insane and potentially suspect.So these are just a few of the reasons that you and/or your lenders and investors are forced to value your target property on how the property is actually currently performing.On the other hand, as opposed to doing a single valuation you should be doing a full pro forma.

this actually happened with the obama administration years ago.these are what you are finding, troy. these houses are less than desirable and the bank, well frankly, " has bigger fish to fry". so these houses sit and sit and sit. get run down, and pretty soon, when the bank wakes up and realizes they have thousands of dollars in carrying costs invested in this house, they discover that they will never get anywhere near the amount that they have invested in the house back to them, so they " drop" the house. thats right, they write it off. they stop paying someone to check on it every 2 weeks, they stop paying someone to mow the lawn, etc. and they stop paying the taxes.my advice to you, call and ask the bank if they have " released the lien or mortgage" back to the original owner. some banks will tell you, others will not. then, call the local tax authority. ask how many years ago the last taxes were paid on the house and who paid them. if it was a bank, and they stopped paying the taxes, well, there is your first sign that the bank has dropped the house. they aren't going to keep paying the taxes on a house that they no longer want, are they?

Our HOA includes Exterior insurance/maintenance, termite bond, lawn care, water bill, pool maintenance and flood insurance.

My dad lives nearby though and is interested in real estate as well so he would be my boots on the ground.Here are their numbers:Rent: 14,250.00 monthTaxes: 15,300 yearInsurance: 6,800 yearManagement: 8%Maintenance: 13,000 yearUtilities: 3,600 year (they say tenant pays utilities so not sure what this is)Lawn: 900 yearPest Control: 600 yearLegal: 600 yearVacancy: 10%I also assumed 5% for Cap Ex… not sure if that is a good number?