Are you quoting net cash flow - after taxes, insurance, maintenance/repairs, property management if needed? 

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

You’re in a win win situation no matter what however I guess you would also want to take in account any major cap x repairs that might be coming up soon in the future you might want to avoid paying. 

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

For example do you have a great w2 and can you afford to cover costs of a major repair or 3 months of vacancy?

This will allow your agents and wholesalers to assist you better. - Property type (single-family homes, duplexes, or small multifamily)- Min/max square footage or number of bedrooms and bathrooms- Desired cash flow or ROI metrics to ensure profitability- Property Condition (turnkey, light cosmetic fixes, or heavy rehab)- Neighborhood type (A/B-class areas for appreciation vs.

Tell him you'll give him a call :) This is one of the reasons why we tell tenants they need to vacate the property for any major repairs.  

Hi Mike,I'm a Los Angeles area based mortgage broker that can assist.

Even with the mortgage paid off, some of the $2000 in rent will go to maintenance, repairs and property taxes.