Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Know your numbers no matter what and use the BiggerPockets Calculator Tools!

For my calculation, I've assumed $1200/yr utility paymentsSeller is asking for $5,25k, but according to my calculating a fair price at 7.5% cap rate woud be $4,80k.What do you guys think?

There are other ways to calculate this as well.Hire a tax pro!

Thanks for sharing your knowledge For a rough calculation you could take the annualized P&I payments / the purchase price. 1256*12= 15,072 / 75000= 20% annualized returnI use a simple xls spreadsheet with Present Value (PV) macros to calculate my offers based on P&I payment and remaining term.  

I’m considering whether to pursue a 4 plex investment opportunity. 8+ cap but haven’t used the rental calculator yet

I should have used templates and calculate using things like the dea analysis and offered a lower purchase offer, and negotiate better loan terms.

The BiggerPockets calculators are great, I use the rental property calculator frequently.Real Estate is a great long-term investment even if you make a bad decision BUT knowing which deals rank highest in your market will help you become a go-to investor-friendly realtor.2.

Also, doesn’t hurt to analyze a few deals using the calculator :) 

Calculate your failure.