So as @Melanie P. said, any positive cash flow is enough. 

A PM offers so many additional services in addition to things you cannot do yourself - like simply having a 3rd party between you and the tenant.

But if your goal is to cashflow positive from the Day 1, you may find it very challenging due to current day interest rates, high cost of construction and the fact you won't have the efficiencies of a seasoned developer building at scale.

If you used a loan to rehab your property and find yourself in a difficult position, doing a straight refi (just paying off the old mortgage) will be easier than trying to pay off the original loan and take additional cash out.

So lets hope something positive happens, but also make sure to plan for the worst case as well.

Prices a few years ago were based on expectations of (in addition to interest rates staying low): - Then current operating cost assumptions (like insurance cost expectations being flat)- A seeming disregard for record levels of new inventory / supply hitting the market- Extremely high inbound migration expectations which are likely to not be met, due to both natural disasters and the boomerang effect when people from California or the Northeast move to the American South and hate every minute of the humidity, the large and relentless swarm of insects, and the occasional hurricane. 

I would appreciate any positive or negative comments on your experience with this investment opportunity. 

In both you are now paying taxes on an additional $1K/mo.

But if I decide to pay an extra $2,000 per month, in addition to my (dropping month after month) minimum interest-only payment, when the loan is recast to principal and interest, the new payment will be based on the remaining balance ($396,000) spread over 25 years.

Hi BiggerPockets Community,I’m looking for advice on breaking even or generating positive cash flow with my studio condo in Prospect Heights, NYC.