Property 1100 sqft, 3bed 2 bath in Spring Area , is making $1400 in rent20% down = 38kLoan Origination, Closing cost = 5kLoan is 7.8 % ( investment interest is little higher ) out of 152k ( 190-138 ) = $1100 / month ( use mortgage calculator on google to calculate )Now add insurance 1200 / yearTaxes 3300 / yearProperty manager 1200 / yearThis is additional $475 per month, bringing you to a total cost of $1575 this is without repair reserves.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

I'm starting out with relatively low capital and as I start honing in on prospects, I'm just now realizing that I haven't yet calculated closing costs into any of my deal analysis.

No one exactly knows what the future holds, but if I had some upside (i.e. ability to increase rents) on this deal I would take the calculated risk as I believe we'll see somewhat lower rates within the next 5 years.  

Utilize resources such as the BiggerPockets Rental Property Calculator to evaluate possible transactions and make sure they fit into your budget.

They would also not pay the past HOA Dues (almost $8000), so I'll exclude that from this calculation.

Do I simply jump in with a rental that would (based on the calculator here) give me a 16.56% CoC ROI and move forward from there?

@Lucy YenA calculated strategy to creating wealth and cash flow is required in real estate investing.

For Cleveland, they would use the following FMR to base their calculations :One-BedroomTwo-BedroomThree-BedroomFour-BedroomFMR Percentile$913              $1,108           $1,434            $1,527             40Now, they might only give a % of that amount.