Your target occupancy of 100% and expense ratio of 33% is a bit optimistic.

It doesn't matter - You as the big bad rich landlord have a target on your back and will be named to the lawsuit and your insurance carrier will rush to settle it quickly and then you'll be dealing with the long term challenges of having that claim in your insurance history. 

But the question is whether one can actually achieve the proforma cash flow on older properties with a less economically stable tenant base.Based on your picture, you appears fairly young.My advice is buy properties in quality locations think long term 10 to 15 years - slowly and safely build your portfolio - equity and cash flow will increase over time and in 10 to 15 years you may become financially free.People talk cash flow is king but one can NOT generate financial freedom cash flow with $250,000 or $500,000 invested (equity).Even at a 10% cash on cash return, one needs $1.2M invested to generate $120K a year $10K a month.You want property to be self supporting so it needs to cash flow but once that is reached the focus in my opinion should equity growth which increases net worth.

My guidance is always to first determine your exit strategy and then reverse engineer into the resources you need, and the platform that provides them, in order to achieve your goal. 

The plan was to complete flooring, electrical upgrades, new kitchen and bathroom, exterior fascia work, and some new windows, with a target listing date of June 15th.Update (5/12/24):The property has been stabilized since June 1st of the previous year with great tenants in place.

By taking calculated risks and implementing the right strategy, one can achieve success in real estate.Good luck!

Since REP status is difficult for full-time doctors to achieve, this approach allows them to take advantage of the tax benefits (e.g., cost segregation studies and bonus depreciation) without qualifying as real estate professionals.

Our capital raise is not over, the target for this fund is $250M.  

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

With 4 fully paid off properties and 10 doors producing $10kish per month in the next 5-6 years, I think that achieves what we're looking for.