I don't have a hard and fast, here is what my criteria was when I started:1) Covers enough so its cheaper then renting2) Room to improve rent: addressing poor management or by improving the unit.I figured in my market with fixed debt and rent increases, within 3 to 5 years, the cash flow would be real nice.

I am no banker and there are people here that will certainly address your question better than I... but it appears you are blending real property and personal property and trying to bundle together into an LLC. 

Sorry for my newbie question.I really want to understand the business :)Primary residence - the place where you live and reside for the majority of the year; your legal address.

This ensures that your primary mortgage is settled, helping to alleviate the immediate pressure of foreclosure.Credit Line Payoff:In addition to paying off your lender, the refinancing solution also allows for cash out to address your outstanding credit lines.You can receive up to $15,000 per credit line, with a maximum of 9 credit lines eligible for payoff.

Of course in old properties you should always immediately address any chipping or peeling paint. 

@Carmen Lapham- There are episodes in the "The Real Estate Investing Podcast" with Daniel Apke and Ron Apke that address this. 

When one sees an address on "Hill" street or similar clues, a topo map is the next step.

@Dayton Bourassa one issue you haven't addressed is whether these properties, and the corresponding tenants, are Class A, B, C or D.Why this matters?

Feel free to message me the ask and the address.

I spoke with the police and they told me that they could not remove the unwanted guest because he had been living there for more than 30 days and set up his mailing address there and therefore he could only be removed through an eviction process.