From the numbers you provide, at a glance it looks like you might be able to cover all you expenses.

It will require a considerable start up expense in the form of furnishing the units and then getting them rented.

Do deals.There is more expense than paper, postage and labor.

These are what his numbers are: Value $369,000, Gross Rent $72,749, Total expenses $49,682 Net $23,067.

LeadSherpa is a good service i had a lot of experience with if you want to go that route.The two best strategies I’ve found are inbound methods: direct mail and Google Ads.Direct mail can be expensive, but it can also yield highly discounted properties.Google Ads, on the other hand, doesn’t require data extraction like calls, direct mail, or texting.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

Are you expensing your property Mgt throughout your units?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

There are some houses around that I would like to get a hold of one day though it may be hard with as expensive as everything is getting.

For your property to perform well, I would want it to rent for around $1800 a month to cover expenses and provide some cash flow.