The accounting is a vital skill-set when moving up to apartment complexes too.

My near term goal is to accumulate enough properties such that I have a passive income of $4k per month which about equals my current living expenses.

But it is still a measure of risk you should be compensated for).Additional risk you're taking on must always equal an additional level of compensation for you, for taking on that risk.

Negative emotions, in particular, are often what drive people to seek solutions and buy your products and services.For whatever reason, people are more motivated by the thought of losing something than by the thought of gaining something of equal value.

Below are the vitals, would appreciate any thoughts.Purchase Price: $2,350,000+/-Units: 170 (All 1000 SF 1/2/3 BR)Current Monthly Rent: $76,500/mo Annual Rent: $918,000 Vacancy: 33%Effective Gross Income: $605,880Taxes: $21,000Insurance: $15,000Management: 5% (will be partially self managed) $30000Utilities: $6,000 (only common area electric and electric heat, all other separately metered)Repairs/Maint.: $50000 (I own a construction company)Marketing/Promotion: $1,500Trash: $3,000Supplies: $5,000Water Testing: $3,000Misc: $1,000Total Expenses: $145,000NOI: $460,880Cap Rate: ~18%Property is in overall good condition but could use some upgrading.

I guess I'll see on the next home rental -- hopefully I can do equally well.  

I've got a 1031 exchange question...Do i have to purchase a replacement property equal to my sales price or just the amount of my capital gain?

I do have the 25% down saved up and the price of the property is equal to about what single family homes in my local area are going for.

Gross rent divided by the value equals the percentage. $65k purchase price is 2% rule, $130k is 1% rule (based on 1300 rent).

Or are they equal?