My first property was paid off making me only $1000/month profit.

They won't always be upfront about this with you but if know they're selling because they want to retire, that opens you up to different options vs if they're an investor just selling for profit.

Be sure to factor in repair costs to keep things profitable.

Petersburg area, resulting in highly–profitable investments.If you need professional and courteous property management experts for your multifamily, single family, condominiums or town home, you've found the right company!

Cash OfferARV $180,000 - $55,000(Rehab) - $14,400 (8% fees, CC, HC) - $40,000 (profit) = $70,600 MAONovationARV 180,000 x .95 =171,000 (EST.

For example, several of our clients last year did not have a primary intention of profitability. 

-To your success, Zach Lemaster, CEO Rent To Retirement---https://www.biggerpockets.com/business/page/3497https://www.biggerpockets.com/users/ZacharyCole/referenceshttps://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-reviewhttps://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirementhttps://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-dealhttps://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-flhttps://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

If you don’t owe then, everything is profit without paying overhead depending on the structure of your lease.

As more people placed more properties in STR inventory, and as more municipalities taxed and regulated the industry, the profitability of the overall industry has reverted to a much more aligned (lower) risk adjusted return.  

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.