This causes very expensive rehab costs in Albany, relative to even Albany's near neighbors, and I believe it's a primary driver of the urban blight that's evident in parts of Albany.

My day job (hopefully not forever) is a CDL propane delivery driver in Birmingham, Alabama.

Hi, I'm Scott and I'm a pizza delivery driver/cool in Pelham, NH but also live in Lowell, MA.

Maybe get rid of the 10% buffer if you already have a lot of science behind the estimate.Maintenance - As others have said, the maintenance number is too low (especially for 100% turnover) but your combined maintenance and cap ex do not appear too low.Appreciation and Principal Reduction - Cash flow is one of three profit drivers in real estate and to calculate the true return, factor in the other two drivers using the IRR.At a 60% expense rate for a $1450 rental, you are likely forecasting expenses a little on the high side (even with the higher taxes) but you may not be too far off (and the tweaks I mentioned may help).

A valid drivers license is required as proof of residency.2) You need some major repairs done that you don't want to get ripped off over, because you're not local and/or don't know a phillips from a flathead.3) You have no clue how to spot application fraud4) Professional tenant you failed to properly screen stops paying rent, referencing local laws you have no clue about.5) Tenants abandon your property and you don't find out until city contacts you that they shut off the water at the street because neighbor called about water leaking out of your house and running down the driveway (true story). 

I'm more intrigued about helping out as a driver on someone's team to start. 

I'd pay an Uber driver or go to fiverr.com and have someone drive to the property and take pictures or do facetime to see what you are getting into.

If I was a young 25 year old and said, I want to be a truck driver, what would I need to do??

I remember awhile back when they were in the 200s I'd listened to every episode teice and it was a great driver to be envigorated and inspired to keep going.

Look into Cleveland, its got good cashflow potential with appreciation happening as well.Looking for appreciation come to Columbus, there are still 1% deals, but the more attractive part is the population growth and other economic drivers!