Use tools like BiggerPockets Rental Property Calculator and Excel templates.

I prioritize applicants with a high income-to-rent ratio, a good to excellent credit history, and a stable employment record.

Have multiple 4 units (B/C asset class) in different parts of city and we average about $100-$120 a month per building.Cheers,Art

My personal favorite (and where I currently live) is Belmont, NC, a charming town about 25 minutes from Uptown with excellent restaurants, bars, breweries, and community events.

I wanted to see if there was anyone out there that has used Microsoft excel to keep track of the ROIs of there properties?

But, excel is totally fine in the beginning (in addition to your PM software to capture transactions outside of the properties).We use QuickBooks Online exclusively for all of our REI Clients.

Thank you KC, These are excellent points that I'll be weighing over the next weeks as I make my final decision.

Now it used to be if you got a job with the government and could count on a fat pension then life could be good and with a few rentals excellent.

Hi Craig, excellent question! 

You ask an excellent question on location.