:-p Ultimately I look at ROI/cash-on-cash returns, but that depends on how the financing is structured, whereas cap rate lets me compare just the factors of the properties themselves.As far as your computation, to compare apples to apples it should be consistent with what other investors standardly do, so needs:8% vacancy loss rate, computed from your gross income6-8% management fee, computed from gross (since like me you self manage, consider this a salary you pay to yourself for your time managing it and separate it from the property #s)Rental license fees (if Wilmington requires this, ours are $50/unit/yr)Trash removal (again if Wilmington charges)Snow removalLandscaping (cutting grass or bushes if you have any)Insurance: Are you really only paying $750?

If it needs to be corrected then you're going to have to pay someone to do it if you don't do it yourself.Now to keep your Contractors bidding apples to apples create that Scope Of Work (SOW).

You are comparing apples and oranges (buying rental personally vs inside of an IRA/401k).

I compared apples to oranges.. came home .. scratch down some numbers on paper to determine a new rent.. when it looked like a number people would accept , welp that was the new magic number.. all the vacancies were replaced with new tenants at the new rate.. work done in the apartments was painting, new carpet, new counters, new kitchen tile floor.. kitchen cabinets stayed the same as I didnt have enough money to replace. but oh what a difference new paint and carpet made.. had my husband rip ot all the old dead overgrown bushes outside ( he has a landscaping company) and I had my company ( my career was i own a housecleaning business) my company came in and scrubbed the apartments before new tenants moved in..

I'm not familiar with your market but if you're putting in free standing claw-foot tubs in mansions then we may be talking apples and oranges.

Hey all,There is excel and quikbooks for managing you financials however is there anybody using any iOS apps for their phone? 

Here's a house hacking candidate currently for sale in my neighborhood: a duplex (2682 square feet, 3/2 and 2/2, with 3 car garage) in the Ortega Park neighborhood of Sunnyvale, in the Cupertino Unified School District, close to 280 and 85, and walking distance to Apple in Cupertino, listed at $1,798,000.

Account Closed It's not totally apples to apples in your example, to buy the preferred stock you need the $150k in cash, the same property in Memphis can be bought for $30k or less.

@Mindy JensenWe strive for 5/5, with that saidThe "Extra" Amenities include, a few cokes in the fridge, a welcome tray with some snack when they arrive (Picture attached), beach towels for the pool, apple cider for special occasions, comfortable bedding, something you would actually sleep in in your own home.

I always personally appraise properties myself because I believe that I am better than 99.999999% of appraisers (unless it is a super expensive kind of niche property like appraising Apple's new donut-shaped office).