- Property taxes and insurance costs are $101 per month- Down payment is 30% on a 30-year fixed rate of 5.5% interest- Monthly rent is $995 monthly- Closing costs are $5,500If you have this information when considering purchasing a property, here's what you'll get if you type this into ChatGPT:"To calculate the return on investment (ROI) and monthly cash flow for the property purchased, we need to consider several factors:1.

Money partner. 3 year term, 6 points initiation fee and 11% monthly interest (No appraisal or other BS).How did you add value to the deal?

What you can purchase today for $100 will require $155 in 10 years if the inflation rate is 5%.

When I rehabbed the basement I tore out the existing drywall ceiling and added sound-proofing insulation followed by a 5/8" fire-rated drywall thinking that would be enough, but apparently the tenants can hear us walking, the dogs claws (we have hardwoods) as well as the TV.

You will then be out attorneys fees, TI, and leasing commissions.

You will be paying that between fees and the cost of insurance, but not in fees.

My experience is that condo associations typically charge so much in monthly HOA fees that any potential investment income gets eaten up by that fee.

I would add to what he said and reinforce getting out of Venmo and into a free landlording app like Azibo which will pull direct from their bank account and add late fees automatically.

I think the answer likely falls in this: what does the market call for in that area and type of home, and what are successful PM companies doing to reduce vacancy rates? 

That just means you will use the listing agent as your agent and still pay a fee unless they have no fee on the buyer side.2.