Does the 1% or 2% Rule come into play before subtracting operating expenses from monthly income or after?

There are far better cash flow plays in the US..

You can also check on density bonus programs, or work deals with the city where you can increase density by doing something they want like going LEED certified.

Pets are a good bonus but I would not initially offer pet friendly unless you have issues renting, even the best pet will cause more damage then no pet.My 4 musts to screen-Credit Check-Landlord Reference-Job letter/ proof of employment-Gut Check= Bad vibes, bad tenantIf people can't come up with atleast 2 of these 3 things, they likely are hiding something.

There are many factors that play on an individual's success, the one constant factor that is always present is education and not the crap gurus dish out but formal training.

Hey @Ryan Ford I think Aaron and Justin did a great job summing up what you can expect and the ideal play for the market here in San Diego.To add on to their input, San Diego is not your typical buy and hold market where monthly cash-flow necessarily makes up the bulk of your return.  

Consider playing it safe if you are new to the game. 

If I am looking for a higher priced item, I play Lowes against Menards with the price matching discounts.I use Menards for paint, electric, plumbing, kitchen cabinets (I custom order) and misc hardware items. 

and well i'm thinking just play the middle man and wholesale it to an investor, All though it is live in ready for the most part. 

It is a numbers game and you have to play it often to find that one deal out of 50 that will be an equity packed transaction.You need to find an agent that can trust that you are not just using them.