Taxes are $500 a year and insurance would be cheap for me.Here are the numbers :14% Cap RateTotal Monthly Income: $375.00x50% for Expenses: $187.50Monthly Payment/Interest Payment: $134.90Total Monthly Cashflow using 50% Rule: $52.60One benefit is this house is two blocks from my house, and is in really good condition.What does everyone think about this deal?

-Is there a rule of thumb for pricing single family homes compared to apartment complexes in the same area?

I am a firm believer in setting firm rules and expectations with tenants and PMs.

Two general rules of thumb:1.

It's a good thing though :)Since buy & hold is your aim, check out this video if you haven't already:I use this rule of thumb to evaluate every deal I come across.

I am wondering how to use certain rules (such as 50%) to know if this is a good deal.

I think our MLS rules are within 1 day Sold status has to be entered and for a new Listing must be activated within 2 or 3 days (don't recall exactly) of the contract date.

@Jon Klaus I think the juries still out on what the rules are going to be.

The addendum over rules any conflicts it has with the contract.

But real estate is a relationship business, so unless you want to make unnecessary enemies (and local RE agents are very quick to make enemies), just learn the rules of the game and keep playing it.Btw...