Jake and Gino have a very handy post here 5) We look for industry diversity, job growth, population growth, rent growth without major vacancy growth, new construction (but not oversupply) and other factors.

Anywho she believe the units could rent for 750 each it's in a great part or town, near a college, and the vacancy rate for that street is fairly low according to property managers.

If your $600 includes all debt payments, insurance, taxes, management, leasing commissions, vacancy reserves, capex reserves (i.e. you just put a new roof on, but in about 25 years you will need to do that again, and to hire it out will cost a lot more than $2,200), turn over costs, etc, then you can compare it to what returns you think you will make in the stock market, or syndication, etc.A lot of times I am seeing others not making an apples to apples comparison. 

Here is one thing that appears:Add a vacancy period between stays.

I would be analyzing the deal assuming regular maintenance, Capex, vacancy, etc.

These numbers include 1 months vacancy expense and 1 months maintenance expense, but don’t include capex expense since that just gets added to reserves.

The rent covers the mortgage, insurance, and HOA, but after paying for property management fees I am losing ~$200 per month, and have little for CapEx, vacancy, and repairs, although it is newly remodeled.Based on my research I know that it is not smart to rely on property value appreciation to justify the negative cash flow, so I have researched ways to try to improve my cash flow:Increasing rent is not an optionProperty management is necessary as I live out of the countryRefinancing doesn't seem very advantageous, my mortgage is a 30 yr fixed rate at 4.375% and the rates in Denver only look slightly below that for attached homesRecasting the mortgage seems like a decent optionUsing this calculator it looks like I could go from Principal and Interest of $1,541.79 down to $1,317.05, for a monthly reduction of $224.74, achieving a slight cash flow positive, if I invest $40,000.

I say expenses, because if one of us house hacks, we can only rent 3 units, which takes us to P&I, property taxes, insurance, Cap Ex, maintenance and vacancy bringing us to even $ with 3 units.

When you get to around 50% LTV you'll start to cash flow and that doesn't take into account any vacancy, repairs, etc.

I have policies and procedures, but I am not an unreasonable man and understand the cost of vacancy.