Here are the monthly allocations (+10% cushion for vacancy): taxes (TTM/12), vacancy/turnover 5% GSR, water/sewer/trash (TTM/12), repair/maintenance (10%), cap ex (3%-goes to money market monthly), CAM (lawn/snow) (3%), insurance (TTM/12), debt service (actual), property mgmt (12% - although I self manage).   

Cam Dunlap is legit but makes a lot of money pimping other guru's products and you have to trust that he did his due diligence.http://www.biggerpockets.com/forums/92/topics/8236...

Originally posted by @Cam C.

If not, keep in mind that a washer and dryer will set you back between $1,000 to $1,500.Security - this typically includes things like outdoor web cams, new digital locks on the front doors, and perhaps keyed locks on the bedrooms.

He is a licensed CBC and insured. 

Consider also other continuing education and certificates that don't require a 4-year degree, like CAM. 

We just got a used 2014 SUV with lane departure, backup cams, and towing capacity because we need that now.

@Cam Galasso I am not familiar with the local Texas FHA guidelines but in CA, you can use an FHA/conventional loan for a second rental property purchase as long as it is a 1-4. 

When I want to do it because my risk tolerance is so low is when I cam afford to have the property myself so it can be more of a passion/side project if all else fails.

I'm of the same notion as Jon -- if this is a shared entryway (hallway between units), then I definitely feel like that would warrant the installation of security cams.