Then you can plug them together to get a better picture of the financial results you might achieve.

I pretty well know when a home was built, by whom, what the price range was or is for the style and floor plan that can be obvious to me from the street.

If I buy this property at $75K, put 20% down with a conventional 30 yr, and achieve $1k/mo in rent (which is what comps for this type of property)... the following #s is what I see at a high level:- Principal & Interest: $293/mo-Tax : $150/mo-Insurance (est): $50/moTotal PITI: $493Est Expenses (50% Rule): $500-----------------------------------------Total Expense + PITI = $993/moIncome ($1k rent w/ 9% Vacancy Loss): $910/moCashflow in this scenario is negative.. with 1.3%  rent/price ratio.Even with a sales price of something like $55K (1.8% rent/price ratio), this doesn't cash flow.Now with the same above scenario, using est 30% expense assumption cashflows $180/mo.Am I being too conservative on expenses for a ~1,200 sq ft. brick bungalow ?

Just go with something modern with a style that will fit the house.

This business would be purchased Turnkey style, they are fully operatiional and net approximately 60,000$ a year. 

The achieved rents didn't warrant much investment.

Thank you for the advice, 10 units would be a great achievement and would probably allow me to switch from my day job to real estate full time, which is ultimately my end goal.

Do it HGTV style...Roll up your sleeves, renovate, and charge more for rent while getting better tenants... longer lasting tenants.Every time someone moves out, improve the property. 

Good to have a specific goal in mind, and it is achievable!

I've been haunting the forums for some time, soaking up info like it's going out of style, and figured it's about time I said hello and thank you for everything I've learned so far.This is really an amazing website, there is so much to learn!