Positives:  there's no real off season and you should have no trouble keeping your unit full (85% - 95% occupancy rate is easily attainable).  

This will help you to attain your highest potential score at al times.

They key is the financial holding power and patience to attain the return required to make the deal a solid investment.

Conversely, if I purchase a property (like my previous example) with a year 3 sale attaining a $25,000 NPV and year 5 sale a $27,000 NPV, it does not necessarily plateau but the equity has been "realized" in this investment and the IRR decreases every hypothetical sale year after year 3.

.$31,200 GAI x 50% operating expenses = $15,600 NOI (operating expenses usually run 50% with separate utilities, and I add on 5% if electric is included and 5% if heat is included)$15,600 NOI / 8% Cap Rate = $195,000 purchase price (this is the number you should purchase the property for if you're looking to attain roughly an 8% ROI. 

Yes double digit returns are attainable just on interest.

:I think we need a section for salsa for some who like dancing around issues.Personally, I think we need a primer on economics and science for those who clearly weren't paying attention in high school.Although I was fortunate to attain a graduate level education, I realize that there are many who did not.

So, when I strated in RE, I had attained a degree of maturity with a better than average command over these aspects than others attempting to do similar things.

My goal is to be able to be free from my 9-5 within the next 12 years (ie. be able to generate about 50k of todays dollars after taxes) and it looks attainable.

In addition, even from a property management perspective, you want the best PM of course, but you want to have a few properties so that you can achieve scale with that PM and attain better fees and costs.