It's about having an income that will enable you to maintain your current standard of living for life.

Or try the reverse - rehab a property to Class A standards in a Class D neighborhood and try to get a Class A or B tenant to rent it.Unfortunately, many newbie real estate investors are jumping into buying affordable Class C rentals - expecting Class A results.

Never buy without personally inspecting and approving the property and INDEPENDENTLY, INDEPENDENTLY, INDEPENDENTLY, verifying everything from values to market rates, to approving tenant selection procedures and standards, to repairmen on standby, to everything else in Christendom that you can thing of.I am not a fan of out-of-state investing, especially for those with less than 50 years of experience, and for them, they’re probably too old for the hassle. 

Transfer the water meter to their control. 

Subtract $350 for HOA dues, maybe another $400-$500 for electric and internet, and potentially water bills. 

If you have a older home that has never shown signs of foundational issues, and it has a new(er) roof, electric, plumbing, HVAC, hot water heater, etc.

What type of MEP work are you putting into the design for getting the sewer, water, power, and internet (assuming you're not extending gas) to the inside of the building? 

Who knows, maybe you use that money and invest into a new type of toothpaste that blows any RE investment out of the water.

You also tend to get more frequent and better feedback than with an STR, if you treat your residents well.The last quadrant, unnecessary but not obviously so, is usually as a result of either converting an STR to an MTR or from remodeling above the standard needed.

8%-11% is pretty standard here and as someone mentioned it really just depends on how the company is run.