yeah 1% rule is really only good for a QUICK gauage, like if you are thumbing through 20 properties and just trying to narrow things down.. i would suggest running it through an analysis worksheet (you can find some great ones a la google).. based on your numbers (at $3500 gross rents) thats 8.8% cap rate..nothing sexy about that. especially if these are "management intensive" units and you're picking up someone else's tenants (headaches)...

Theoretically you'd be getting in the teens on cap rate but am wondering how difficult it will be when you include all the expenses.

Came across these articles:https://www.biggerpockets.com/renewsblog/teach-kid...https://www.biggerpockets.com/renewsblog/2015/07/2...One of the Articles talks about a Money Savvy Pig, not sure it will work for tweens & teens but if your children are younger it is worth a lookhttps://www.amazon.com/Money-Savvy-Generation-LMSP...

I own one not far from yours on Anderson and my house was shot up  last year because my sweet tenant was interviewed in the news and made kind comments about the young teen boy who was shot and killed on the street.

I will say that some sponsors paint very rosy pro-forma and in realty it's only in the mid-teens for the IRR I'm seeing.The ones that I see that are 20%+ IRR are more risky, like ground up or going after distress plays and these guys usually have significant buy-in $50k-$100k and longer holds 7-10yrs.There was an article I found before that talked about Rev A+ offerings (open to non-accredited) creeping up on some platforms:http://astudentoftherealestategame.com/passive-rea...Good luck!

However a Class C building that's going to be re positioned will most likely offer an IRR in the double digit teens because of the upside that will be created. 

Our ROI's have been in the mid-teens for several years and we are really seeing great opportunities here in Memphis.

My car is a 2000 Daewoo wagon (I had teens then) that I bought new.

I think they also make a teen version as well... 

Two teens will generate more visitors then some people are comfortable with, they don't have to be doing anything wrong.