If you closed one rental transaction per week, which would make you a top agent in your office, you would gross $26,000 per year.

Example: $990k 9-plex, gross rents are $7000/mo with room for growth, minimal expenses.

If you know of a way to get this kind of first year return in the current market where you're at, please do share.More on this "geographic metric swapping" below...IMPOSSIBLE METRICS LIKE THE 1% RULEThe big problem with a 12% cash-on-cash return or the 1% Rule where the gross monthly rents should be 1% of the purchase price is that in some markets they are next to impossible to find and therefore completely useless.Let's use both of them to analyze the purchase of a $250,000 property in Anytown, USA.

@Evan Gross,If you are really serious about this target market, start by getting a list of fire-damaged properties that sustained damage between 6 and 18 months ago. 

The rule-of-thumb value for multi-unit properties is based on gross annual rental income and the increase in value increases exponentially every time you raise the rents.

When occupying a property, rental income on THAT property is 75% of gross or tax returns  added to your income and you get full  hit for the entire mortgage payment.When moving out it’s the same just you get the offset calculation is which 10x better similar to any other investment property.Mortgage planning 101 plan ahead 

Rule of thumb is a person should not take on more than 28% of gross monthly income for housing expense.

Alternatively you can also use the Fannie Mae underwriting guidelines to determine the actual net income (75% of gross rents - PITI(M))The advantage for the seller here is, that he will receive (almost) the same income without any volatility.

@Caleb Heimsoth  Steve sorry for off topic.. but while I got Caleb.. wanted to ask him a question.are you now self managing and getting that 20% of gross income back in your pocket now ?  

Net Earnings from Self Employment,"The term 'net earnings from self-employment’’ means the gross income derived by an individual from any trade or business carried on by such individual, less the deductions allowed by this subtitle which are attributable to such trade or business,.."