Hello,I am writing a business plan to start my own hostel. At this point I need to project my revenues and expenses to see if this idea is even possible. I don't know what all goes into the expenses of operating a hos...

I am referring to the rental property calculator final report page 2 on the "Analysis Over Time" section.  

The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms of appreciation (3% annual average) Here are the details: Purchase price: $170,000Rental Estimate per month: $1500HOA: $1000/yrInsurance: $1100/yrTax rate: ~3.4%I assumed the following:I use a 20% downpayment on a 30 year fixed conventional loan w/ 4% APRNew build so warranty is covering most things so minor, if any, maintenance will be neededTake into account 1 month of vacancy per yearTake into account annual broker fee to list of one months rent~5K closing costs~2k in appliance purchasesResult: Assuming rent range of $1500-$1550/month and assuming 1 year I wont have to pay the broker fee to list:From my cash flow analysis I am projecting to have positive cash flow of around .02%-2.1% per year. 

Run...don't walk...away.5 - "Based on my analysis, I think the FMV for a 2/1 like this is closer to 35k."  

I would like to build a long term relationship to span multiple projects per year.

What that means is you basically ethically bribe the tenant to accept a few thousand bucks from you in exchange to get out in 30/60 days instead of riding out the lease.You'll have to do the cost benefit analysis though: are the rents so low that waiting 6 months isn't the better option?

A very good source of local analysis, for picking the right submarket, is rereport.com.

I have been a partner with a mentor I was lucky enough to work with on 2 fix and flip projects thus far that were a great learning experience.

The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms of appreciation (3% annual average) Here are the details: Purchase price: $170,000Rental Estimate per month: $1500-$1550HOA: $1000/yrInsurance: $1100/yrTax rate: ~3.4%I assumed the following:I use a 20% downpayment on a 30 year fixed conventional loan w/ 4% APRNew build so warranty is covering most things so minor, if any, maintenance will be neededTake into account 1 month of vacancy per yearTake into account annual broker fee to list of one months rent~5K closing costs~2k in appliance purchasesResult: Assuming rent range of $1500-$1550/month and assuming 1 year I wont have to pay the broker fee to list:From my cash flow analysis I am projecting to have positive cash flow of around .02%-2.1% per year.

I gave myself 6 months to a year to increase my educational knowledge and practice deal analysis.