Note the Asset Management fee, this is based on GROSS.  1% of gross is a lot bigger than 1% of net! 

. :: THE BREAK DOWN :::(Berclair Area of Memphis TN 38108 which means it is in a C- area )Asking Price $800K for 33 units complex Repairs Estimate $200k$1,000,000 divided by 33= $30,303 Cost per door 33 units Break downConsisting of 50 % of the units 2/1 and the rest 1/1 and 3/2Rented at $450 Per Month 33 units 90% occuppied =29 units 29 units at $450 per month = $13,050Round all rents up to $450 per month each Vacancy: 10% Gross Annual Income $156,600 $156,600 (annual ) divide by 2 (50% Rule for expenses )= $78,300 NOI = $78,300 Cap Rate = 7.8% Cap Rate Annual Property Tax = $3,100Annual Insurance = $5,000Management 10% = $1,300 per month DSCR = 1.6Step 5 ( Making the Offer )I feel like $800k could be a little high so I plan to make two offers to see which would be more appealing to the seller Offer 1 All Cash Offer of $770k (15 day inspection period ) Offer 2 Offer $800k but I would ask the seller to carry a second position loan for $300k at 6% interest amortized for 12 months (7 day inspection period) My main strategy is the BRRR approach.

It sounds your 1099 should have listed your gross pay in Box 7, not Box 1.It's a common mistake. 

Typical rates in the area are 7%-10% of gross rent, plus a leasing fee of one month's rent.I would guess you would still be better off with a Philly property paying for a manager than buying a NYC property and self-managing.

It’s all over the map for the larger properties.Large commercial 1-4% but can approach 10% with additional one off service fees.Small commercial 5-10% is common depending on property Larger Multi family 5-10%smaller multi 10-%SFH and townhouses 10-15% STR 10-20Asset management 1-3% of Gross income.Development has no standard and don’t know why a PM would have a role in that?

NOI is the result of Gross Income minus operating expenses. 

I had one where her NET was more than the gross income.   

If you built a 750 SF ADU 2 bed/2 bath, should be able to do that for about $175k and you should be able to get $2500 monthly rent for each one ($30k gross annual).

Are you going to live there 2 years, and you fix it up then you get up to $500k tax free [if you make that much] if you sell it, that beats a monthly cash flow any day.Typically you can use a GRM [gross rent multiplier] for most properties where you take the yearly gross rent divided by purchase price.

@Jeremy Trier is the NOI $185,000 or is that gross income?