These are my conservative numbers I would use: 2100 gross monthly rent or 1900 gross monthly rent (no CAP #'s as more info would be needed).

We've had this come up a few times recently with corona-virus but have stuck firm to only placing residents whose gross monthly income is three times the rent and they have pay stubs to prove it. 

When they quote you a fee that doesn't leave much wiggle room since it's pretty straight-forward that 12% (or whatever fee) of gross is calculable.So, a lot of prop mgrs will use maint as a profit center (ie charge you $75/hour and pay a guy $20/hour to do it).If that is an issue, if you've got long-term tenants, how about self-mgmt?

If you go with your gut, make sure you have an objective reason why. if you have 3 tenants all with a 750 credit score, 3.2x monthly rent in gross income, and positive references, go with the one that had the best landlord references.

Asking Price: 900k24 Units (12 - 1bd/ba,12 - 2bd/ba)Gross Rent: 15kExpenses: 7.3k, includes utilities, 5% vacancy Loan: 4.5% with 20% downSmall town in Northern Michigan, rents are little low maybe can push $25 per unit.

Taxes, mishaps etc not included, if someone wanted to gross $1,000,000 in a year, they’d need 83/84 units all paying at least $1,000/mo.

A rough rule is that a good rental will gross 10%+ of it's purchase price or $10k per bedroom, better if you are oceanfront.

The exemption was originally intended for personal ownership.Having property in your name, at least in Gatlinburg (city) will also avoid their City Gross Tax.

I target a 30% gross margin after all costs including closing and commissions.

If you meant $160k Per year that’s $2667 per month gross.