The details:List: $150,000Down Payment: $30,000/ 20%Closing Costs: $4,500/3% Initial Investment: $34,500No of Units: 2 (Both Currently Occupied)Annual Rent: $20,100ExpensesProperty Taxes: $447.58 mo/ $5,371 yearHomeowners Ins: $59 mo/ $708 yearCapEx: $168/10%Vacancy: $168/10%Total: $842.58Net: $1,675 mo Total Cost (Mortgage plus Op Ex) $1,477.58Cash Flow: $197.42mo/ $2,369.04 YearCoCRoi: $2,369.04/$34,000= 7% That’s what I have for evaluating a property with what I know.

By budgeting in repairs, CapEx, vacancy, and property management (which I’ll do myself for a while), plus pumping the cash flow back into it, I will fill my 6 month emergency fund in about 4 months (not counting my W2 savings).

I'd love to get recommendations on awesome property management companies (located in cash flow markets).The kind that require little to no micro-management, that treats tenants well, have low vacancy rates, and decent fees.I know most of the time people are looking for a PM in a particular market, and I've already dug through a number of those threads.A lot of the times when I get a recommendation for a PM I can relatively quickly find not-so-stellar feedback on them here on the forums or elsewhere. 

Seller demanded $1400 to stay in escrow. 2nd lender was 5.375% for the same product but managed to close 90 days into the initial escrow..which put me into December with a vacancy!

My initial thought is that it won’t necessarily increase the home values but could be a great rentals with low vacancy rates?

Take into account vacancy, capital expenditures, maintenance, and property management.

There is nothing included in you numbers for vacancy, maintenance or capex.

_________________________________________________________________________________________________Mobile, AL Market Trends:_________________________________________________________________________________________________- Mobile has seen a 6% increase in rents per month over the last year which constitutes immense growth in rental demand _________________________________________________________________________________________________- 72% of the population is under the age of 45 which attracts more of the younger population of which 40% have said they are interested in renting _________________________________________________________________________________________________- 76 days is the average days on market for a single-family residential property _________________________________________________________________________________________________- The rental vacancy rate is 11% over the last 6 months for single-family residential properties_________________________________________________________________________________________________- There has been a 6.7% increase in appreciation in homes over the last year_________________________________________________________________________________________________- 42% of single-family homes in Mobile are renter occupied _________________________________________________________________________________________________- The median rent for this year is $900_________________________________________________________________________________________________Business Sector:_________________________________________________________________________________________________There are 10 downtown residential developments currently in play and they include: _________________________________________________________________________________________________• Meridian at the Port, 300 N.

I only have 24 apartments and only about 2 -3 vacancies a year.

Cashflow would be around $500/ month with very conservative estimates (high vacancy, high capex etc.)