Set the price high and let the market determine the rent, by lowering it if there is little to no interest.

This will steer your research.Get to Know the Market:Check Property Values: See how property prices are moving in the areas you’re eyeing.

.$150 per drain and refill seems a little high, but I am not in that market. 

So here is my scenario, please speak to if you have any experience in this and if it  could work.I recently negotiated an option on a multifamily for about 50% of its current value.

I am highly irritated that I paid this company $99 a month to not communicate with me and lead me as they are the professionals.It was 7 days PAST the lease expiration date per the signed lease for the tenants and I had no clue if my tenants had renewed or planned to move.

They were both crowdfunded syndications so I don't think a PPM would have been provided.

I highly recommend that you look into joining NARPM.org for up to date and local education.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

property tax 11000 home insurance 5000 monthly bills 4800 yearly cost 20800 rent 3500 mgmt fee (20%) 700 net rent 2800 yearly net rent 33600 profit 12800 property value 700000 % profit 0.018285714

I would never advise this, though, as the risks are high to be fined and/or shut down totally.