Using the 50% rule right now your expenses should be at least $8K to $8.5K based upon what your total rents should be.

Using the 50% rule and a new >$800 PI payment you are ranging from several hundred negative cash flow to maybe $100/month if you happened to score one of these deals in a slightly higher end town.Obviously if you just did $50K of rehab you should cash flow much better than this the first several years as repairs and capital expenses should be low, but in the long run you need to account for them.

I know the rules vary from state to state but I am hoping someone from Michigan (mainly Genesee County) may have some advice.

VA rules that I must occupy one of the apt.'

FHA has different rules than conventional loans and thus you need to know your loan type, the date it was issued, and some other information.

If you want to flip, start by understanding the areas. the #1 rule of real estate is Location Location Location after all.

So I guess my rule is more of a 80-85% rule factoring everything into the equation.

Not sure of the rules so PM it to me if that is the accepted protocol.

These are located on a busy street, although not the nicest part of town, it is not terrible either.Is there a rule of thumb on expenses for commercial retail property?

There is nothing wrong with Dekalb but it does have some quirky rules that other counties don't have and it's not always some of the better areas.