Look on VRBO etc and see what places are going for, determine the length of the rental season, figure in some vacancy and see what the numbers tell you.

Most houses I own are built 78-88, have an ARV of $100-$110k,, rent for $1100-$1200 and I end up being "all in" around $80-$92k (lately around the $88-$92k mark).I buy in an area I know the schools, buy in neighborhoods that have few rentals and most have stable ownership.

depending on the grade of property, work the deal backwards to determine your purchase price.

The margin + prime rate is how you'll determine your current rate each month.

The 70% rule was meant more as a quick and dirty estimation on the fly to help you determine if you are in the neighborhood of a decent deal or not.

You are not sharing the same risks, so you should not have the same ownership.

Title insurance played a big part in getting reimbursed and proving when the ownership changed hands.

I worked with my agent (who was also a PM and friend of mine) and determined that I could get rent that could cover the mortgage and the operating expenses, reserves, vacancy, etc with a little cash flow.

The mortgage itself is a different type of liability than what is present with land lording and the ownership of the property for investment purposes.

@Ronnie Sparrow there are two kinds of due diligence you need to doFinancial due diligencePhysical Due Diligence The first one is to determine if this is a good deal.