6 month lease with the option to lengthen month to month at same priceThe tenants supplied a $1000 deposit and the insurance company gave us a $500 nonrefundable deposit and a $250 non refundable cleaning fee.So far, i'm happy with the process although the insurance company rep wasnt very responsive and took much longer to get the tenants in than it should have - mainly because they work 9-5 and no more.Regards,--Dave

The cash flow looks great for that amount of money.

Also, keep in mind that as time goes on, unless there is a major catastrophic financial crisis, rents go up, your equity increases over time and the loan gets paid down, and your cash flow becomes higher. 

I've used templates from BP and other sites like Avail as a start and then asked my attorney to incorporate additional language needed for MTRs like the utility caps, monthly cleanings, etc. 

I like simple and clean deals.

Check out Zillow hottest housing market of 2024: https://www.axios.com/2024/01/10/zillow-ranking-hottest-real...The Columbus market provided great appreciation while the Cleveland market provided great cash flow.

@Larry Batesi'd be cautious with "properties in a lower income area for rental properties"those numbers look great on paper, but the cash flow can be crushed by capex, deferred maintenance, vacancy, collections, and can take years to stabilize

But to pick your brain a bit further why did you say long term rental will not generate cash flow ?

My goal is to have a mixture of cash flow and appreciation properties. 

If so, it would increase our monthly cash flow by about $30,000.