Can you give us some context, including your monthly rental income and your loan payment?

Utility Costs (Water, Gas, Electricity):- Paid monthly by the tenant unless included in rent.

If it's not included in the rent, many companies charge a flat fee to monitor & pay utilities.2) Assuming you're referring to resident benefit packages, renters insurance, and other charges for services the PMC offers to tenants. 

Just like any real estate investing, there is always risks but we are well trained in the community on how to ensure we are protected (including the right paperwork). 

I understand that that a home in Jerome Village would already have property tax, that would include additional fees for the roads, infrastructure, etc. and that it's based upon "millage" and the home's assessed value. 

For a beginner investor, the choice between using maximum leverage or putting more cash upfront to build equity depends on several factors including risk tolerance, financial stability, and long-term investment goals. 

In your analysis, be sure to include those criteria the investor considers most important (cash on cash, cap rate, DSCR, etc).Also consider what you know about the private lender @Michael Dallas.

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).

I’m trying to get a better understanding of the unlevered IRR hurdles SFR / BTR investors have for value-add improvements.By "value-add improvements" I’m referring to upgrades made to a property that increase rent or purchase value, often including kitchen remodels, bathroom updates, solar and other energy efficiency improvements, fresh paint, a new garage door, finishing a basement, adding a deck, and updating flooring, to name a few.I’ve been hearing a lot of different reactions to this question the last few months.

The numbers don't work for most Duplexs in the greater PHX area which includes not great cap rates.