If it makes a positive cash flow since day 1 price is not that a price should not be the only determining factor in a long term investment.Are their any leases with the existing tenants or does it have any obligations that you would become obligated for. 

Once you go a few years out it becomes hard to project as there are too many factors that play into it.

Every day I get up to do my miracle morning and see the vision, I look over my goals and then act throughout the day.

I'm not saying don't do it, I'm just saying make sure you consider all factors and if your numbers long term are realistic. 

TURN OVER kills landlordsfor me if I get a tenant who is good ( when I had tenants) I NEVER raised rents longevity and consistent payments over years of tenancy will beat turn over and raising the rent 20 bucks every time.. plus the simple hassle factor.. that's worth more to me than a few hundred bucks.

Factor in any debt on the property, utilities, furnishings, etc.

I only have a few years under my belt, but I currently use COCR as my primary deciding factor for evaluating a property. 

You also will definitely have to factor in remod costs, almost every building up for sale is around 80-120 years old, lead paint, old furnaces, old doors etc etc. 

Good morning all,How do you calculate what the monthly rental fee should be?

Whether to have an LLC or not is a complex decision based on many factors.