I think my range will be somewhere around 300k. 

I've been going through "The Multifamily Millionaire:  Volume 2" and in Chapter 13, they talk about property management ranging from 4-6%, on top of on site management that is on the owner's payroll, separate from property management, and that you should budget about 1 staff member for every 40 units.If you (the owner) are already paying a property management firm, why do you have to have on-site management separate from the PM? 

Hi Ashni, you'll be able to get something in the $400,000-$450,000 range with that size of a downpayment.

I've been using the general "50% of EGI" rule to analyze properties but I am curious what a "true" range is.

You can get solid cash-flowing single families in the 90-120k price range and duplexes in the 130-180k price range.

Keeping your payment in the range of rents (allowing for expenses a homeowner will pay and a tenant doesn't) tends to keep owner-occupants on track.Your attorney or an attorney-owned title company can create the docs and manage the closing.

Nobody renting in February, so if it is vacant then, you get to wait probably until August, as that immediate area and price range probably doesn't draw other tenants for the most part.JRB Carswell/River Oaks area, completely different type of area and clientele. 

Mostly what I see in your price range in my area are condos, tons of condos for sale.

What price range are you targeting? 

Lows range from 71°F to 80°F, with occasional dips into the 40s.