My loan terms:  50% LTV, 5.5% 10/1 ARM 25 years  Could have gone with 5/1, but who knew I'd be selling in less than 3 years. :) Options (in 2017)Term: 20 years on Fixed rate loan and 25 years on Adjustable rate loans Rate: 4.25% on 3/1 ARM, 4.875% on 5/1 ARM, 5.5% on 10/1 ARM, or 6.25% Fixed Fee: 1% origination fee plus $300 processing and $300 underwriting fee

Quickly realizing that it is very expensive to live out here, so it challenging to find properties that would pass the rule of thumb tests (50%, 2% rules, etc).

The 1% or 2% rule applies to when you're doing a quick evaluation to see if BUYING a property for an investment makes it worthwhile.

I'm a hospitality management major with a minor in accounting but I definitely don't want to become a hotel manager working 50 hour weeks only to cap out at a $44,000 salary each year... 

My group has purchased over 50 properties at the Courthouse steps the last few years.

I work 40-50 hrs a week out of town so going by the courthouse every week for numbers isn't feasible and the assessors website doesn't have much information about the properties.

Asking price..850,000GR.....75,600...No vacancy added 10% for vacancy....75600-7560=68,040Expenses...26,879.15...not showing management....Insurance......Gas 
Took 50% of adjusted gross income 
Which equaled..34,020 The cap rate with the price of 850,000 and NOI of 48,721 = 5.7%.

My plan is to wait 30 weeks and put in $50  of saving.

Right now I am managing mostly Multi-family, but I am just under 50 doors.

Two: I feel as though I should be running the numbers like the 70% rule starting from their listed price...