The rent amount should at a minimum cover your recurring monthly costs, allow for a cash reserve for non-recurring capital expenditures and repair/vacancy-related costs and ideally put some cash into your pocket. 

I would consider an investment in California that yielded $1,000 over PITI to be interesting; $1,000/month cash is morethan sufficient to cover the basic non-recurring expenses of vacancy, maintenance and capital expenditure reserve. 

In a few of the recent posts that I came across, there is a recurring pattern that I have observed.

Since you can make this a recurring charge, it will be less work, but is also less exact.

It seems that the recurring theme is that the areas I am interested in are pretty tight.

Once all non-recurring expenses are accounted for, you'll be closer to breakeven.

Is $2,000 net of all recurring expenses? 

I agreed with the contractor that if financing does not meet my needs, they will refund 50% of my deposit and give me the design, engineering plans.Number Overview - https://share.getcloudapp.com/...Primary House OverviewLine ItemCost Last Appraisal Value$710,000Current Loan Amount$625,000Current Loan to Value %88.03%Current Interest Rate 2.99%Monthly Payment $3,402After Renovation Value OverviewLine ItemCost Expected Additional Value (20% of Last Appraisal Value)$142,000ARV $852,000ARV Loan to Value %85.75%2nd Mortgage Scenario 1 Line ItemCost Renofi 2nd Mortgage Amount $105,600Renofi Interest Rate 7.00%Monthly Payment $766Reserve Required - 6 Months $7,998ADU Recurring Operating ExpensesLine ItemMonthly Cost2nd Mortgage Scenario 1 $766Property Tax$125Total Insurance$67Maintenance$83Other Costs$17Total$1,058ADU Rental Assumptions Line ItemMonthly CostMonthly Rent $2,000Vacancy (5%)$100Total Recurring Operating Expenses$1,058Net Monthly$842Rent-to-Value Ratio (Value based on 2nd Mortgage Amount of $105,000)0.80%Annual ROI.

I send out recurring regular market updates to my investor and residential clients -- I keep an eye on the market daily and like to share value.Edit:Last week in Pasco, Pinellas and Hillsborough counties more houses were put under contract than listed. 

My concern is in regards to recurring fees (mostly the ones you must pay to remain active - ie not personal marketing/advertising or other optional fees/services).