They offer a tremendous value for the dollar, in which households can live in nice areas for a fraction of the cost of stick-built homes.

Household incomes are around 150K-200K.

You need to first save up enough buffer to weather household emergencies, car repair, job loss etc.

ClasonStart with an honest assessment of your household finances: savings, credit, debt, etc.

I live in Charlotte NC and my salary from the rat race exceeds the median household income for the area.

I made her put together a budget and send it to me where she incorporated all household cost and expenses. 

You can take the opportunity to get more detailed paperwork filled out then if you need it, such as setting the tenant up on your property management portal.Additionally, asking follow-up questions about total occupants, pets, and more can help landlords compare the current household to what is on the lease agreement if you did not have an estoppel agreement.All the best!

The actual amount is dependent on the type of tenant...if they are lower, or fixed income, they obviously cannot afford a big hit, but if they are a typical dual income household, they just tighten their belt a little.

However, there are people that renting is discretionary, like recent high school and college graduates, and other newly formed households.

A sewer line was repaired in 2012 and trees removed. 40 year old community, homes 20-30 years old.Population of town: 8000 (20,000 within 10 miles), median household income $29,000, median rent $616, median home $62,000.2014 P/LRents: $23,144Expenses:  $9132mgt. 1889maint: 1032util.: 393trash: 2890Lawn: 1750Ins.:  481Licenses and misc:  696Net: $ 14012 (40% expenses)--------------------------------------Using: 15*140*12*.5/.15=$84,000 value ballpark  assuming 50% expences and 15% Cap.