Quote from @Joey Andres: Some landlords will improve with practice.

.- Improve Property Management Efficiency: Since you handle management yourself, consider investing in property management software or hiring a part-time assistant, even a VA.

- Seek regular feedback to improve.5.

The cash flow will improve due to the typically fixed rate loan.  

Of course there are times that the tenant should be responsible but far too often it is just a LL weasel clause to improve the bottom line at the tenants expense.

This should eliminate the homeowner (1) selling a property while remaining liable for the note (subject to), (2) tying  up his property with a “buyer” who has no intent to close unless he finds someone to pay a higher price (wholesaler), (3) paying above market rental for an option to buy that can never be exercised (4) purchasing a property from a fix n flipper who did shoddy rehab, (5) purchasing a property with nebulous legal title, (6) contracting for home improvement with a fly by night contractor who then puts a mechanics lien on the property and (7) “listing” with a wholesaler disguised as a Realtor who doesn’t put the home on MLS. 

I created my own but was looking to see how I could improve it.

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

These updates modernized the property, improved its curb appeal, and significantly increased its market value.

Do you plan on making a documented improvements to the property?