McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

If you can get all the bedbug containing furniture out of the place and it will sit for awhile (or let it sit while the other repairs are done) you may be able to avoid some cost, but if you want to get a paying tenant in sooner rather than later you will want to bite the bullet and get it well done.

We purchased it for 135k and we put into it about 15k in repairs, of which most of the work we did ourselves.

The quality of answers to your are directly correlated to the quality of your questions asked.  

You can also write off expenses such as property management, insurance, repairs, etc.

Repairs and maintenance was $3492.50 for the year. 

How have you identified quality contractors and kept them on pace?

Basically/Hopefully that is watching rents hit your bank, and occasionally calling a repair service as needed. 

Plus, you have to turn the unit over- paint, carpet, etc repairs?

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.