@Ryan McEniff based on my education and training when analyzing a deal I use the following for operating expenses: Check with the local area you are buying by asking the local experts, but as someone who is a real estate Broker in CA, our average closing costs on the buy side for a buyer will run between 2%-3% of sales price (most of that comes from lender origination fees). 10% vacancy (most deals I see when being offered for sale are between 5%-8%, but if it pencils with 10% I know I'm probably covered on vacancy)10% for property management (until I know exactly what the PM fee is then I would modify, but average is 8% to 10%)5% for R&MActual Property TaxesInsurance (Get quotes from 3 companies and take the average)Landlord Utilities (12 month average.

I still use my HELOC to purchase properties (HELOC >> Personal bank account >> Capital contribution to LLC), but I take enough credit out to cover the loan cost of the project (pay your HELOC with your HELOC). 

The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms of appreciation (3% annual average) Here are the details: Purchase price: $170,000Rental Estimate per month: $1500HOA: $1000/yrInsurance: $1100/yrTax rate: ~3.4%I assumed the following:I use a 20% downpayment on a 30 year fixed conventional loan w/ 4% APRNew build so warranty is covering most things so minor, if any, maintenance will be neededTake into account 1 month of vacancy per yearTake into account annual broker fee to list of one months rent~5K closing costs~2k in appliance purchasesResult: Assuming rent range of $1500-$1550/month and assuming 1 year I wont have to pay the broker fee to list:From my cash flow analysis I am projecting to have positive cash flow of around .02%-2.1% per year. 

Trash,, is a constant issue,, notify tenants,, properly dispose of,, add containers if needed.. let tenants know any trash not put in cans they will be fined,, I've dug thru trash found envelopes to tenants,,taken screen shot and they get 25.00 fine for not getting it in the bin.... don't be surprised if neighbor is one to call that complaint in.. 3.

What's cost of eviction action,, it should at least cover court costs..

First l advertise cross streets a block away never exact address, second if someone call I will pre-screen them over the phone; does the price work for your budget, what do you do for a living, can you provide paystubs, can you pass a background check etc. then because I use lockbox most times I never give the code until first they send me a picture of their drivers license and second they are at the house with the lockbox in there hands to prevent them from even writing it down.Also they must call me back as soon as they are done looking before they leave the property for security reasons, make sure the keys are back in the box and combination is shuffled and of course to tell me what think about the place.

Depending on the lender, you will need to have 6 to 12 months of Capital Reserves, to cover Mortgage Payments.

The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms of appreciation (3% annual average) Here are the details: Purchase price: $170,000Rental Estimate per month: $1500-$1550HOA: $1000/yrInsurance: $1100/yrTax rate: ~3.4%I assumed the following:I use a 20% downpayment on a 30 year fixed conventional loan w/ 4% APRNew build so warranty is covering most things so minor, if any, maintenance will be neededTake into account 1 month of vacancy per yearTake into account annual broker fee to list of one months rent~5K closing costs~2k in appliance purchasesResult: Assuming rent range of $1500-$1550/month and assuming 1 year I wont have to pay the broker fee to list:From my cash flow analysis I am projecting to have positive cash flow of around .02%-2.1% per year.

In my experience, the farther in advance I tell my tenants the better they react.I've heard some landlords say that they raise the rent when their costs go up (such as property taxes) to cover the increase, but that makes no sense. 

I'm finding the hard part is more finding properties that are in a good location and also don't have restrictions on short term renters (either hoa or local regulations).I've reached out to owners with the same basic offer (increase rent, cover repairs up to a certain amount) and most people are hesitant to even discuss it, so i think it's a sheer numbers game and being ready to buy a property when one shows up that matches my criteria