However, when I googled for the gross ROI, it said it was 27.5% in 2023 and I'm very curious about the net ROI. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

I'm interested in learning a bit more about typical vacancy percentages, size of the local population being serviced, reasonable percentage of effective gross income for expenses, etc. as well Peter.Hopefully some experienced member(s) will sound off!

Over a year $200 on a $35-40K gross is nothing, yet over and over LLs want to "set a cap" vs screening for good guests/tenants instead. 

Let's say you make 100k/year gross - you'd need 16-17 properties that pure cashflow (profit) $500/month.

, your 60 units of ownership conservatively translates to somewhere around 3.5MM gross.

It cash flows gross $400 max and about another $450 goes to principal each month.  

If you learn zoning then you can understand density, if you can understand density then you can reach a number for estimated gross development value.

On a 4,650 sqft property listed at $1.1M, that's $116K - $140K per year in Gross Rents, and after NNNs, I believe I'm looking at a 10-12% Cap Rate on asking price.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.