If you don't know why, DM and I will lay it out.2.  

Even though I wasn't a good asset manager, I made money on my properties. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

As a management company, we also have a duty to get a property occupied with a qualified resident as soon as possible and sometimes that means adjusting rents down for right now to generate revenue.  

Here is my method I got that has done me wonders, I used the method from Brandon Turners book on managing properties:1.)

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

I've learned a ton about syndications, partnerships, funding for construction, the development process and so much more about managing consultants than I will ever care to admit. 

The throw off about $200k year in cashflow and I pay almost zero taxes.

@Brian JacksonIm an investor in Memphis, TN and I own a large portfolio of SF rentals.

Getting a rental license as an out-of-state investor is doable, but you’ll need to manage inspections and compliance.