Vice versa, if you are just starting out, you might want to be more conservative to tackle any unexpected expenses that arise.The 70% rule is an industry standard, but that doesn't mean you can't adjust it based on your desired ROI.

Most lenders want your housing expense to be less than 40% of your monthly income… sometimes closer to 30%… but usually between the two figures.  

You should be able to charge for any of these items if you have receipts for the expenses. 

This includes collecting rent, handling maintenance requests, and addressing any issues that arise.Financial Benefits: Renting out the basement can help offset your mortgage payments and other expenses associated with homeownership.

The rest of the state is pretty average in my opinion and you may see some listings near Morgantown or Charleston worth taking a look at. 

The monthly rent is $2525 with the expenses of $800 and the 30 Year note is $900 which leaves a positive cash flow of $800 monthly. 

We keep in a bank account an emergency fund of 3 months' expenses for all rentals.Financials: We currently own a primary and 2 LTR single families.

This involves upgrades to common areas, amenities, and unit interiors, which can be expensive.

Being a wholeslaer is having a business.You are in the business of finding and buying land/contracts for a short duration and then immediately selling them.One typical expense for a wholesaler is all the advertising costs to find motivated sellers.

I own the 4 plex 50/50 with my parents and it's starting to become tedious trying to track who's putting what into the property as far as expenses and sweat equity is concerned.