-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? 

Spend a year learning and going to meetups before you fork over a $50-$100k franchise fee and half of your profits and don't even know what you are doing.

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).

If the bill is $100 a month split between four units, increase it to $120 and charge each tenant $30.How to calculate charges.

@Orlando Johnson- If you were going with 6% real estate agent fees the $12,500 number is incorrect. 

As you know, marketing and price are both very important, and vacancy will significantly impact your income, so you are almost always better off charging a lower price and getting it filled with a good tenant.  

This dragged the process out even longer, making it both exhausting and expensive—I’ve already spent nearly $10,000 in legal fees.

The fixed expenses include Principal, Interest, Taxes, Insurance, and Association fees if in an HOA.2.

And @Michael Plaks is correct that setting up in GA didn't avoid the CA LLC fee. 

Look at me taking charge of my financial future!