I want the cash flow to cover any expenses the property may have.With my next property I am trying to figure out what state/town to go to.

From there, you can better estimate the end numbers and work back to figure out the GP/LP  equity needed and the estimated returns.

The home is a 3/2 in a great neighborhood next to the community pool, park, and playground and located just south of beltway and and I45.We are new to the midterm strategy and trying to figure out what the demand is and the pricing. 

With a few tweaks to the management structure, and with new leadership, I figure we can greatly increase the revenue.

Nice hit for us and we have 2 more going One sold to lennar another to a big regional same terms larger returns for us and my client will make 8 figures on one :)  .. 

Just trying to figure out how to best apply it. 

Whenever possible, try to figure it out without taking on debt.

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

with the information provided can someone please give me our cost basis so I can figure total capital gains?

I’d start by figuring out the cost of the cosmetic updates and seeing how much you could rent it out for.