The Planning and Zoning Dept should be able to answer or direct all your questions appropriately with regards to their rules and regulations.

Using the 50% for expenses rule of thumb (read in the landlording forums), that says you need rent of $3150 to be breaking even.

So, if it is "OK" for the government to ABANDON "ethical" principles of finance, and it is "OK" for Business (Corporations, etc, both small and large) to ABANDON ethical" principles of finance, then how can you possibly expect the individual "consumer" to play by rules which ALL FORMS OF BUSINESS are discarding in droves, in favor of the loopholes provided by government?

I am starting to see distressed condos listed retail, in incredible neighborhoods, with good schools, that would rent at break even (paying retail) using the 50% rule.

You will be losing a ton each month.Rent: $4070/monthExpenses: $2035/month (50% rule, search and read)NOI: $2035/monthPayment: $3602/month ($570K, 6.5%, 30 year)Cash flow: -$1568Even putting in $100K and ignoring closing costs, you're still in the hole $935/month.

Lenders are catching up with the new rules put forth.

I'm looking at one that with the 50% rule cash flows $170/mo and using John's 40% it comes in at $320/mo.

.$1200 rent$600 expenses (50% rule of thumb)$600 NOI$499 P&I payment ($70K, 7%, 30 years)$101 cash flow.If you put in a down payment, your cash flow would be even better, though that's really just a return on your cash.Paying $130K for $1300 in rent would not be a good deal.

I have another rental down the street that is almost identical.

You can only hopeJungle rules would be fun.. :)