Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

We got our required and expected profit that we calculated at the very beginning.

So, if I am a buyer, I will calculate that risk into it and will charge MORE for the risk.

Stop denying the facts.So, are you the guy that when teacher ask's what 1+1 equals, you ask for a calculator????

Have you calculated how many properties or average monthly revenue it would take to reach that goal?

I put the first, largest mortgage in under the loan option in the BP calculator.

A solid agent can help you calculate ARV, manage inspections and contractor connections— get quotes and coordinate handymen and vendors post close, provide shopping lists and software suggestions for management or STR furnishing, etc. 

Computers can analyze property based on subjective data (square footage, # of beds/baths, etc.) but cannot calculate for objective data (quality of kitchen cabinets/counters, size of bedrooms and bathrooms, view out the living room window, etc.).You should study the market yourself.

After years of experience, I developed a spreadsheet with key formulas and checklists to calculate the true Cash-on-Cash Return on Investment (CoC ROI). 

This provided a substantial return on the initial investment and freed up capital for future projects.Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45%Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)With a 40% expense ratio, the DSCR is approximately 1.45.