I usually keep my maintenance at 10% no matter what.With those factored in your cash flow would be more like $40 a month, which doesn't leave much room for error.

Buyers are 50% or more of the game when wholesaleing, To a rookie they are more like 70% of the game.

Working with a single family house allows the new landlord to learn the operating expenses first hand and also develop the skills to be a landlord.If you make a mistake with the operating expenses and landlording technique with a SFH, this is not a fatal error.

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The problem is that in most cases comps could be interpreted both ways, supporting the price and invalidating the price.Comparable sales are always the most accurate way of determining fair market value, but when you are picking two or three out of a hundred to compare the subject property to, discretion comes into play, and with it human error.

If you buy and sell you have no room for error.

Get your records at the local assessor's office and comb the report for any errors.

Also, you know they will be getting (or already have) a decent job, being they recently graduated.From rookie to rookie, dont be too hard on yourself.

When I first started my rental property business about 3 1/2 years ago, I realized that there was little room for error.

Most new investors far underestimate the operating expenses and that is usually a fatal error for a new business.Good Luck,Mike