Brief background, I’m full time in healthcare, started investing 1.5 years ago, I have 12 doors grossing a little over $200k a year, looking at semiretirement by end of 2024 with $100k a month of net income by then.

When she was doing this, the long-term lease combined with the Airbnb income grossed her about $5,000 per month. 

Gross equity is $233k right now (assuming $725k holds).

Natisha,Appraisers do not give a lot of positive gross adjustments for cosmetic upgrades. 

Property:5 units split between two structures on one deed.  3 residential, 2 commercial Current Gross Income is 41K, Net is 25K, placing current market value around $250,000, verified with numerous local sources. 

Little background information 30 y/o married to an amazing women with two healthy young boys. 60k a year combined gross income, 35k in student loans, currently renting, FICO 630, 3k in a online savings.

As costs to build increase- one way to continue to offer new affordable units is shrinking the space.Number of Units:110 NRA(s.f.) 79,292 sf Year Built:ProposedIncome Source # ofUnits AlerageMarketMarketMonthly Annual IncomeSizeRent/ SFRent/Mo.IncomeStudio Units14449sf$3.06$1.38$19,250$231,000One Bedroom/ One Bathroom63618sf$2.55$1,573$99,120$1,189,440Two Bedroom/ Two BathroomFour Bedroom/ Two Bathroom3I2988sf2,435sf$2.01$1.40$1.988$3,420$63,620$3,420$763,440$41,040Potential Gross Apt.

Gross Rents are $4,325, profit is about $1,250 a month.

The gross rent less all expenses (PITI, repairs, vacancy, etc) is the correct formula.  

Generally a smaller park like this one will cost 8-10% of the gross collected rent if you have it managed by a third party.