You manage the headache of guests and communication, cleaning, etc. and he provides the property, but shares in the expenses and profits.

I ASSUME you’re talking $400+ in extra expenses for providing water, power, sewer, gas, internet, communal area cleaning, and exterior maintenance.

Expenses at the property were were getting out of hand, and needed to be corrected.

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided

Quote from @Travis Smith: Age 56 and retiring from farming and I’ve been very good at avoiding income taxes with depreciation and business expenses.  

Evaluating deals on this site will help you understand expenses, income, and financial statement.

Your expenses are not a reason to increase rent!

Private money may be cheaper, but may be more expensive if they are doing something that most hard money lenders wont do. 

Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300. 

We did get much lower costs when we changed to minisplits but the initial cost is high.Central HVAC unit, very expensive to run.