Below is what I have seen as far as rents and average annual expenses in this asset class.Market Rent:    $1000/unit (fixed up)Annual total:   $24,000 (Gross rents)Vacancy:         $1200/yrProperty Tax:   $1750/yrInsurance:       $1080/yrProp MGMT:     $1920/yr (8%)Landscaping:   $1200/yrMaintenance:  $1800/yrCapex:            $1200/yr (check age of roof $7-9k to replace and HVAC $4500-5200 to replace)Total Expense: $10,150/yrNOI:                $13,850/yrMortgage PI:   $13,412/yr (20% down on $210k purchase, 30 yr fixed at 7%)Cashflow:       $    438/yrCertainly not a homerun by any means, but it gets you into the property.

It was a good property but it had not been updated in a long time, it was smoked in, and the landscaping was in disrepair.

There's a ton of landscaping to be done. 

The exterior needs roughly $5,000 in general repair/landscaping.

Landscape clean up.

One window that needs replacement and low maintenance landscaping.

I am currently nearing completion on getting my rental unit ready to advertise as I just have minimal landscaping and carpets left to do (waiting on carpet contractor bids to decide who to go with), but I am having a hard time with focus.

Renovated the landscaping.

Achieved finish in 7 weeksCome check out this MOVE-IN READY NOW, fully renovated ranch featuring a modern farmhouse style, new exterior paint, cedar shutters, and landscaping!

Achieved finish in 7 weeksCome check out this MOVE-IN READY NOW, fully renovated ranch featuring a modern farmhouse style, new exterior paint, cedar shutters, and landscaping!