It was the best solution but it did cost extra. 

If the floating rate debt starts costing too much and there is no capital to replace a rate cap, reserves run out.  

If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation.

Most won't insure pools with diving boards or ones without a VGBA drain.2) Include the cost of a pool company to manage the pool in the rent. 

., to 2.5x or 2.75x) since tenants won’t have additional out-of-pocket utility costs.

So a room used for laundry that is 100 sq ft (quite common) costs the owner about $72,000 over the course of a decade (in today's dollars). 

In the beginning I want to manage by myself to save cost.

BiggerPockets Pro members will have access to all Stessa core functionality and advanced features, like unlimited portfolios and SREO, all at no additional cost.

You'll learn a lot just from starting out like that with little to no experience at all (cosmetic renovation cost, managing current tenants, leasing out a unit).

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.