I’m going to lay out all the numbers here and hopefully some people will chime in with their thoughts. 1 bed/ 1 bath condo in north New Jersey (~10 min bus ride to midtown Manhattan)May 2016 Purchase price: $270kDown payment: $54k (plus 10k in closing costs)Current market value (best estimate): $325kMortgage remaining today: $205kCash flow per month as rental: $300The way I am looking at this is I am deriving my “net equity” (net of selling closing costs) to be:$325k x 94% = ~305k, less 205k (mortgage remaining) = $100k net equity.Therefore, my RoE on an annual basis is $300 monthly cash flow x 12 = $3,600 divided by my net equity of $100k = 3.6%On one hand, it seems like I could use that $100k elsewhere and likely beat 3.6%.

Reasons why:- modeling monthly returns is a major PITA i.e. high level of technical competence required- inter-year volatility including cash shortfalls is masked with annual only returns- in a live deal, you will always run into issues with reporting i.e. how do you compare forecast #s with actual #s. 

Online CD one can get 1.7% annual interest anytime withdraw. 

I currently make just over six figures annually with my only expenses being a car and (soon to be paid off) student loans.

What would be the annual yield/roi that the financial partner would be satisfied with? 

I'll also have to hire a property management company to rent the place out for me and manage it going forward (so, 10% there).Here's the math I'm looking at:Current annual gross rents: $16,800Projected annual gross rent: $21,600Management fees (10%): $2,160Net: $19,440 = $2,640 increased annual revenueIf I am spending $15k, it'll take me ~6 years to make that income back up.

If the tenant is on a periodic annual lease, then you will have to provide notice in compliance with local tenancy law and the terms of the lease.

My ultimate goal is 100k-150k in annual residual income.

Yes, Just had an annual tax sale yesterday matter of fact.

Our combined annual income is ~200KWe have investors presentations lined up, but I wanted to go in with a property and what our plans are.But I've been looking for the past two months and can't seem to find anything on LI/NYC, that seems reasonably priced.