Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

My goal is to build a sustainable rental portfolio that provides great housing for tenants and solid financial returns.I’m looking for advice, insights, and connections from experienced investors or local professionals.

At least in my area, it's cheaper to own a condo with the HOA dues than it is to pay for all the utilities, snow removal, waste management, maintenance, etc, that goes along with an SFR.

Utilities weren’t quite there yet, and Jeff almost walked away.

Land is valuable as I could purchase a new mobile home and install and less costs since utilities are already on the land. 

I would like them to cash flow at least $150 a month just so the property sustains itself.

The important things to consider about HOA fees is that they usually include some utilities: Water/Sewer, Trash, sometimes shared amenities like gym, clubhouse, pool, and they are saving you the time and headache for property maintenance: lawn care, tree timing, roof, siding, etc.

Hi Gavin,This is fairly common, and it’s great that you’re thinking ahead about how to handle utilities responsibly.

Utilities, including common area will also be different.

The income includes things like late fees, a rented garage, and utilities that are billed back to the tenant.