Off Topic - O/TThe view count also reflects how many times someone views a thread.

@Michael Ealy I am with you 25% expenses (not counting payment) is low.

@Nicholas Bohm You can count DFW off your list.

I know that my drive from the rental homes to Home Depot, etc it's considered business, but that's basically all I've been counting as business... drive from the rental house to anywhere for tools, materials etc. 

You can't just count on a zip code and think its all good or all bad.You can find 300K homes and 30K homes all in the same zip code!

I have a scoring model for bank financing that I obtained from a company that specializes in this and they count bank theatrics as 25 / 312 possible points; or about 8%.

That's why you really need experience, not just a bean counting financial approach basing your decisions on expected returns, I guarantee you'll be wrong 6 months out if you are not very conservative.

I also learn that you cannot count on your attorney to cover everything for you, so I want to compile a checklist to make sure my attorney has included everything in the lease.

I have at least 3 current projects that represent 6 doors in process with folks from BP and tens of doors in process if you count those with equity from our fund.

Nor is my asset potentially appreciation (not that you'd want to count on that, but Portland is a strong market).Now that you know about bp and the 50% rule, and you're getting the real world experience of owning your first investment property, the next deal you do will be even better.