If you are suggesting that your ACTUAL expenses will be 43.98%, why on the next line do you ignore all that, to subtract 50% instead?

(This should include Taxes, Insurance, Management, Maintenance, Utilities and Repairs.)From your GSI subtract your Operating Expenses and the market vacancy rate times GSI to get your Net Operating Income (NOI).Divide the NOI by the market Cap Rate to get the current market value (aka The Price)Do not buy the lie that they don't know the trailing 12 before they bought the place.

Subtract what you need for a management company, etc, and you have your return.

Some add that as an expense, others subtract vacancy from GSI.

By the time I subtract expenses, I'm having trouble cashflowing anything above $50/mo.

I typically subtract 3%, of the ARV.Realtor Fees: What is the commission you are willing to pay your listing agent (unless you are the listing agent) and the buyer's agent.

I typically subtract 3%, of the ARV.Realtor Fees: What is the commission you are willing to pay your listing agent (unless you are the listing agent) and the buyer's agent.

The account has been dormant since; I haven't added or subtracted any money, and it's been sitting in cash the entire time.

I'm wondering if I should come back to the listing agent with an offer subtracting this cost (or at least meeting them in the middle). 

Then, they'll look at your total rental income (based on leases you give them and your tax returns), take a percentage of that, then subtract PITI to come up with your net rental income.