To estimate expenses, consider setting aside a percentage for management fees, plus costs for cleaning and utilities.

Quote from @Andrew Slezak: During my due diligence should I call property management and HABD to see why the rent is set to where it’s at?

Quote from @Ricardo Lemus: Hi there,You guys probably went thru some of my post already and even help me with some experiences - Thanks a lot :)This time, after 6 months on this, I think part of my brain is saying that somehow I am in the right direction, and the other part is saying something is going on with the rent price I have set for my properties.

To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

Cold Called the seller.

There are tenants in the other side already so we will need everything solidified for them by the time we get the title and we are set to close, which is February 19th.

You should have money set aside for litigation.

We are in 11 markets, including Huntsville and would be happy to set up a call to talk over some options. 

This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

Generate a comp set in Pricelabs and you can go into finer details on what others are charging.