The $7630 in expenses is Garbage, electric, water/sewer, lawn care, insurance, real estate taxes, cleaning of hallways, and po box rental. 

But 95% of the time, its 12mm laminate.As for engineered hardwood ~ don't get me started on that garbage.  

Simple things like the garbage disposal clogged or the HOA needs them to pull weeds.

Clearly some of these tax evaluations are off in the county because my criteria I searched for was homes assessed over $75,000 and I'm getting all kinds of garbage that I didn't think would show up in my list!

I personally use the following to evaluate a rental property: Taxes, insuranceSewer/garbage/electricity/snow plow/HOA (usually paid by tenant, so not as important)Maintenance 15%Vacancy 10%Capital Expenditures 15%Property Management 10% Mortgage/interestI don't like to factor in appreciation at all to be safeI am conservative with the % of rental increase per year so I try not to use numbers >2-3%I like to be conservative with the maintenance and capital expenditures, but I don't think these numbers are that unreasonable, yet seems so difficult to find a deal buying  a house around retail price.

Some of the gurus were teaching garbage about having an equitable interest in the property.

Would it be OK with you if someone pulled that same garbage on your mom, sister, or friend?

It covers things like snow removal, some landscaping, garbage collection, water and sewer (in some cases).

Also taking over the garbage and recycling costs which tenants were paying every quarter.  

$ NOI improvement / cap rate = market value addedForced appreciation is great and you control it.1 - raise rents to market value2 - enforce late fees3 - charge application fees4 - supplemental income (laundry, parking, vending)5 - reduce vacancy6 - screen properly to reduce turnover7 - respond quickly to maintenance requests to improve tenant retention8 - clean up landscaping9 - address deferred maintenance10 - rehab units and raise rents 11 - dispute tax assessed value12 - shop insurance, landscaping, garbage, pest control, snow removal, painting, flooring, HVAC, plumbing, electrical...the list goes on13 - ratio bill shared utilities (if the market will bear it)Every $1 improvement in NOI = $10 improvement in value on a 10 cap, for example.