A lot of investors approach me saying that they invested in Kansas city but are getting priced out with cap rates dropping in a lot of midwestern markets due to the popularity of out of state investing.I'd look for a market where you can get higher cap rates on C+/B- assets, that still has solid laws, low taxes and owner paid utilities, and solid rental demand that keeps turnover issues at a minimum in the working class asset range (your ideal target for max cash flow).I'll shoot ya a message :)

I suspect you'll be closer to $100/month.As @Brandon Cooper pointed out, property management is usually 10% of GSR.I shoot for deals that cash flow $150-200/unit/month and have a mid-teens CoC ROI or better.

Feel free to shoot me a connect

@Kenneth Taylor if I can help with any deals feel free to shoot me a message.

(I imagine a lawyer could word this better.This way, if the tenant decides to shoot cans in the backyard, or has an acciedental discharge, you can address it.

You don't want to shoot yourself in the foot by over-leveraging or over extending yourself.

About a month ago a pipe corroded in the front yard and started shooting water everywhere I got it repaired but the owner doesn't live near by so I had to pay the plumber with my own money.

SHOOT ME STRAIGHT.

Shoot me a message with any questions you have and I'll try to answer them as best I can, and if I can't, I'll try and point you in the right direction.

My experience in NYC taught me that when the City starts screwing around with tightening up rent control, the smaller non-controlled properties shoot up even more--less supply, more demand, higher rents.