In this particular situation the rents were guaranteed by a local organization that placed the ex-convicts so that was a nice setup.  

But they won't be 1 percent in a year or two years because C- to D+ properties have trouble tenants (sometimes) and high cap ex.

If they are legal dependent of qualifying applicant (ex., college student, dependent parent) then they still need to pass criminal background check.

I wanted to share the financials after 3 years, and demonstrate what three years of real estate investing can achiev3 Bed/1 Ba Single Family Pro-Forma:Year 1 (2021)Income:Rent: $1,200.00Expenses:Mortgage: $509.95Taxes: $119.10Insurance: $43.84Cap Ex: $60Repairs/Maintenance: $60Vacancy: $60Monthly Cashflow:$347.11/mo or $4,165.32/yrYear 3 (2024)Income:Rent: $1,300.00Additional Pet Rent: $75Expenses:Mortgage: $509.95Taxes: $155.43Insurance: $53.03Cap Ex: $68.75Repairs/Maintenance: $68.75Vacancy: $58.75Monthly Cashflow:$450/mo or $5,400/yr (Total/Not 50/50 %)Total Equity: $37,473.88-Principal Equity: $7,959.62I have learned a lot about the systems needed in place to run a rental property, and how important picking the right tenant is. 

When people buy too many properties too quickly, they end up with underperforming assets and more cap ex than they expected.

Though my ex-business partner had a scare when he was looking to buy a property.

 $1800 (high end of rent range) - $1535 (hopefully mortgage includes full PITI) - $90 (5% vacancy) - $400 maintenance/cap ex - $180 PM (at that low rent point I am using 10% all inclusive) - $50 misc (bookkeeping, utilities that are not tenant responsibility such as slab leak, tax man, allocation of asset protection, etc).  

In fact if you start discounting vacancy, cap ex, insurance, taxes, etc.

But why do you want to buy multiple homes in the same year if that would be stretching your resources and subjecting you to more cap ex?

For ex, is it necessary to visit 5 times per week to mow the lawn?