I never take these videos at their face value because there is always a history we don't get to see.That said, the PM should not lower himself to an unprofessional level. I

Property manager would take 8% of gross income and if each level is rented out at 1200 a piece, than that is 2400 dollars a month. minus 900 for the mortgage payment a month and minus 400 for bills, minus 200 for property manger= should leave me with 900 dollars a month.

that is based upon the sq ft of the property, major areas &/or systems of a house, and the finish level I would need for a particular project.  

If the basement level is in the ground by a certain percent it is considered a "cellar" and not a story so you are clear at 2 stories. 

Top level is hot as Hades with A/C running continually.

As Billy says, you have to find what your comfort level is for this business.

These are still decent neighborhoods, but have more foreclosures, lower home quality, just not as nice and will bring a tenant at a different income level. I

I had a recent conversation with another multifamily listing broker that was interesting.We were having a conversation about listing properties knowing they were marginal deals.My mindset and knowledge level is different than some multifamily buyers.

Your numbers let me know that my goals are a bit lofty, however, it's nice to know that that level is achievable.

Generally a more reasonable level is 60%, and it could be more depending on whether the owner picks up any utilities.