There is no consideration for risks, areas, quality of the house, renovation, or management.  

These are good indicators of quality tenants.You can also adjust how much deposit you take as well.

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

.- Everyone's situation and goals are different but I would assume there are a few quality markets within an hour of where you are located in Florida that would check a lot of your boxes. 

Take a look at the pictures, is it higher, lower, middle quality compared to yours.

Insurance companies are taking a close look at building materials, quality, and updates. 

Some key qualities to look for include:- **Responsive communication**: A PM company that keeps you in the loop and addresses issues promptly- **Local expertise**: Knowledge of the Birmingham market and experience with Section 8 tenants.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.

As a licensed contractor and real estate agent, I can review your estimates, ask the questions you might not know to ask, and help you make an informed decision that balances cost with quality.

But in my opinion, the biggest issue I see with folks jumping into their first "big" multifamily deal is the quality of the pro forma. 

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?