Account Closed You may be confusing flipping versus buy and hold.The idea of the 2% rule is that the monthly rent is 2% of the value, so a $100,000 property should have a $2,000 per month gross rent. 

However, little likelihood that the window would have taken 5 years to crack due to a miss-installation.Possibly to a gross change in the structure of the house due to a heave in the foundation, usually there would be further evidence of such an event than just the window.Contact the window company, let them shed some light on it, you never know.

Unless the terms are particularly sweet, I would need gross rents to be closer to $2500.  

Expect to pay a premium for PM versus nicer area larger buildings.I would validate rents for the area and then take 60% off of ballpark gross to be conservative.

There is a duplex with no work to be done, which grossed $1250.00 monthly, there is positive cash flow.

NONE, doesn't know what NOI is and operates strictly from a GROSS RENTS perspective.  

I'm looking at a 6-flat that's listed for 600k with gross income of 68,400. 

Annual Scheduled Gross Income, Annual Expenses = NOI,  do you know what the Debt Service Ratio is for this property now and when it's fully rented? 

Thankfully the court employees were OK. 

These are self managed properties and assume 6% vacancy, 10% of gross rents in maintenance costs, taxes, insurance, CAP EX and all that good stuff.