And as Chris points out, you better have a reserve because there's an 99% chance you'll be spending some big money in the first 3-12 months to deal with an unexpected problem or a bad renter (or several).

Very few 5 bd homes for rent that have good yards, and so this has helped me attract consistent tenants and unexpected cash flow. 

A 24 or 27 inch oven you can find, some options to get a cheaper price are sears outlet or an online retailer.  24 inch actually looks cheaper then 27. 

I told her I would pursue legal action and publish a review of the situation on every social media outlet available.  

Depending on your timeline, you might plan on selling before these get too old and need to be replaced, but the unexpected does happen. 5-10% is a good rule of thumb - in your case, because it's multi-unit, you might be able to go on the low side since it's 1 roof, 1 exterior, etc.

How many years of operation will it take for you to breakeven or become profitable if you have to start out with a unexpected, major repair? 

@Bryan Noth I trust you more than any media outlet as you are boots on the ground in Austin!  

I'm already negative cash flow on this rental because of unexpected repairs and tenants not paying.

Hi, we are unexpectedly selling a house we own that we just had appraised in February for a refinance.

I would love the passive income and creative outlet that becoming a host has to offer.