Its not good time utilization pandering what they'll pay per month in expenses, fees and whatnot or even worse what their end buyer will want or have to pay per month etc.

It is:Gross rents x 50% = Cash Flow before debt service (the 50% includes taxes, insurance, property management, utilities paid for by owner, maintenance, vacancies, etc).Once you have that number, subtract your debt service payment (principal and interest), and you will have the cash flow.Without the actual rents or your loan details, it's hard to provide an accurate example.

I have no stake in AmFam - just a satisfied customer.

I looked on how much they make and its not bad at all.So now I am thinking of opening up my own apartment renting agency and provide much better support and customer service which will stand out from competition.

Also, read the Ultimate Beginner's Guide, it will give you an idea of how you can get started.Once you have been around and utilized the resources here, you can start formulating a plan.Good luck and let us know how you can help!

If you want a website to advertise for private money, you should add a custom page to your existing site.

You are counting reserves and utility deposits as an expense.

You need closing money, down payment, money to start repairs, buffer money for repair overages, insurance, points/interest, utilities ..

Remove the utilities and you may be at $100/mo.If the owner pays maintenance, this is no deal.

I've seen a lot of 'custom' contracts with unnecessary and ridicules terms that only an uninformed seller with no counsel would agree to.