Margins are tight and screwing up the math or having unrealistic expectations will end you up in trouble pretty quick!

Look for Value-Add OpportunitiesFocus on properties you can improve to increase rent or reduce expenses—this can make marginal deals much more profitable.3.

You'll still owe taxes on the depreciation taken during the time it was a rental, typically at a marginal tax for bonus dep recapture.

Identify your risk tolerance and work within those margins.

However, there is also a very fine line for this as the PM can only do this so much and so often because our margins are not ridiculous and since we aren't the owner we don't get any upside appreciation when money is being spent to potentially fix things and make the unit better, rent for higher and/or be worth more.

Is there enough margin here for a flip, or would this be better as a long-term rental?

In my market, it's hard to make MTR arbitrage work because the margins are so small.

As to your numerical goal, you can certainly exceed that (and ultimately by a large margin).Most would-be real estate investors get distracted along the way but have lots of smart phone apps.

Yes I am one myself Sick margins!

Thanks in Advance Definitely possible, margins × volume.