Now it is close to 600 being optimistic. 

Thanks for listening.And thank you all for your input, I might have never proceeded with finding the true answer without everyone's optimistic views on this thread.

The reporting may have a somewhat optimistic slant to it. 

Property management: $70/mo/unit or 10% of gross rent (don't know if they charge you half or full first month rent)Utility expenses: say average $100/mo/unit (Based on my experience)Repairs & maintenance: say $70/mo/unitCap-ex: say $70/mo/unitVacancy: let's be optimistic and say 5% or $35/mo/unitInsurance: say $35/mo/unitProperty taxes: say 1.2% or $70/mo/unitYour monthly expenses are about 65%.

Basically I built cash flows for five years based on amortization tables and assumed I would sell the house in five years (I won't really). then I compared the NPV of the cash flows using my highest interest rate student loan as the discount rate.I'm also optimistic I'll do better than $315 per month on expenses because we signed a 3 year lease and part of that expense is to allow for vacancy.I have enjoyed finding this website and now have big dreams for future investments.

(he has a hard money loan)The numbers you have above are optimistic.

I assume expecting to get the appraised value for a home that is greatly in need of repairs might be overly optimistic and naïve, but I'm not sure by how much.

I am optimistic that I will find a good one, maybe have to hire an employee instead, or sell and invest passively...time will tell.  

With a house like this, 60% occupancy might be optimistic.

One person will tout a great ROI and another will talk about the ARVs being anything from optimistic to delusional.The one theme you'll come away with is fly out and do you own due diligence no matter what.