To have 47 grand out of pocket only bringing in 190 bucks a month, I'd pass.  

@Tom Mitchell , To clear your question, generally, when you say convert second home, you mean changing its status form vacation home to full rental designation because "vacation home" rules limit your deduction on the operational expense and depreciation deduction up to your rental income. 

My city costs would be a couple grand. 3) - Your headache level depends on the codes and zoning.

In the grand scheme, they will be far lower than the operating ratios of any stock market company.It's what you keep that matters: To focus on any particular component of an investment strategy results in missing the big picture.

They attempt to convey to the user what the nature of the QRP plan design is, so that consumers understand what they're getting and how to maintain a plan compliantly and not get in trouble with the IRS. 

What do you guys think Greenfield-Grand River area in Detroit ?

In South Bay or Peninsula it is hard to get $6 grand rent unless you are in PA or SFO.

When it's not a failure, it's a grand slam home run. 

@Gary WaddleOnly if you can get it below 90 grand would I start to consider it

Well I would base the 1% rule on the total price of 80 grand .