@Samuel Carmichael besides what @Brandon Ingegneri said about looking at absolute dollar amounts to figure out if it's even worth the aggravation, I also agree with @Michinori Kaneko about looking at percentages.Personally I look at percentages first, namely 1) cash on cash return (yearly money back after all expenses including mortgage, divided by all money invested to get it rentable) and 2) debt service coverage ratio (net income after operating expenses but before mortgage payment, divided by the mortgage payment).The first is (obviously) a measure of return, while the second is more of a measure of risk as it tells you how much of a buffer you have between the property's net income and the monthly fixed mortgage payment.After you get a little more experience you'll also start to factor things like replacement reserves into account.

I do not think a percentage is the appropriate measure. 

But if I were to raise money for a sfr, or small multi family, could I not just form an LLC and have the silent(money) partners own a percentage of the LLC and cut them a cheque quarterly from the cashflow.

I’d expect 20 plus calls to get 1 deal.So likely your annual budget is a percentage of what the big players spend on this stuff per month.I have bought multiple properties for about double what you’ll spend on direct mail.  

It is different for every property and NOT a percentage of rent.

I was planning on self managing since its just a single family home and I'm not going to have any positive cash flow until at least 2 years so I don't want to give up another percentage to a management company.

You don’t say what the current rent amount is, so I’m not sure what percentage a $200/mo increase would be.

Before taking over a property you should be able to determine the percentage based on RR turn over and the business plan from the PM.

It points to Table A6 where you have depreciation percentages for each year.

I will run this place through an assessment calculator and see what I should be expecting to pay and what perhaps my rent should be set at assuming a certain percentage of vacancy, etc.