Some people need 2% above the borrowing cost (8% cost of hELOC you gotta then make 10% + etc) and others will want to double their cost of capital or 200% so it depends.Everyone's going to give you their anecdotal experience or what their preferences are so its good to hear it all and determine your own.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

They already cancelled many large complex deals or doubled their price for the past few years.

Starting a property management company with my brother and my dad was a mix of teamwork, trust, and family dinners doubling as business meetings.

The way I saw it, I got paid to earn an invaluable education even if at the time it seemed it was half the pay and double the work.

With the failures we endured in the past - we were able to take out original goal of $500-$600 per door and were able to double that with just 1 door. 

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

 - This is not double taxation.  

Certainty in this industry is merely an illusory facade - costs and timelines often exceed expectations by double.

I know for sure that in my area of Texas (well outside of major metro areas), we've seen the cost to build new homes almost double in price.