You'll want the rents to at least cover the monthly principal, interest, taxes and insurance (and HOA if there is one).

But I would charge the extra 3% to cover my costs.

We had a discussion about the costs I have endured and the low ball offer to cover expenses for going 5 months past contract deadline but haven't heard back. 

Just focus on running the numbers carefully to ensure the property cash flows or at least covers expenses, and don’t hesitate to lean on resources here for advice.If you’re financing, look into FHA loans, as they’re great for first-time buyers purchasing up to 4-unit properties with low down payments.

My general contractor told me to charge her a $400/month pet fee for four months –which would allow me to save up $1,600 to cover damages- and then give her 30 days notice in May when it will be warmer and faster to fill a unit.

There is so much to cover and so many different directions you could go.

We cover a large geographical area (nearly 400 miles) because there are usually only a few STR eligible properties for sale in any given city.  

As far as payment, all I wanted was my time covered and I charged a lousy $100 a month.

They cover the entire renovation expense.  

This way the lender is covered and only lending on the value that is legally zoned and compliant (in case the city took action against the non-conforming unit).