Long story short I wanted to return the security deposit, and find a new tenant. 

Depending on what tax bracket you are in, and whether or not you are subject to passive loss restrictions in the eyes of the IRS (i.e. make less than $150k per year in active income, or qualify as a professional real estate professional), that annual total would then be added to your federal tax return.

Most of the OZs (75%) don't provide financial requirements for economic return, however when OZs are paired with the right market conditions the investor is $44 richer for each $100 invested in OZ vs standard investments with no tax benefit (SP500). 

The cap rate is not what level of return you are willing to accept, it is the level of return that the market currently demands to deploy capital.

Unless you're getting a screaming deal such that the extra $67/month won't put a dent in your return, I would just move on and look for another one.I focus on south city nearer to "the hill" which is relatively high ground.

Aside from that you will need vey deep pockets to be able to build the infrastructure and carry the property for a decade before you see any positive returns.

Minimum down on as many properties as you can swing will maximise your returns.

Under no circumstance should you just wait for her to leave. if she is leaving soon, make sure you understand the laws surrounding returning security deposits as well.

Although prices have been going up for a solid 2 years, the returns are still very good.

I think returns can, for the most part be universal....However, expected returns will differ even between states so I'd guess that's probably where most of the differences will come in to play....Also, the laws of the country you're investing in.Many books are more focused towards mindset.