This is more a rule for single family houses than apartments, but still a good rule of thumb for apartments as well.You can argue whether an experienced landlord in specific locations can ever get expenses lower than 45% on-average, but I think 99.9% of experienced landlords would never honestly believe you could get expenses anywhere near where you have them (25%).You can take Mike's advice and plan for 45-50% expenses (he has dozens of data points to support it), or you can stick with your own estimates, and consider it a learning opportunity a couple months down the road...Good luck!

@Catriona Carlson actually legal cannabis edible products are tested and have dosing requirements so you do know exactly what you are getting

Prices are dropping about $5K per month on average.

:lol:My apologies if I insinuated that REI was/is 'easy' for the average investor.Sincerely,RayE

Using historical data, census bureau for income and NAR for housing prices, from 1968 to 1999, housing prices averaged 2.769 times yearly income.

Kathy,It started with personal contacts, then Matt Gil and I had a little pow wow and rearranged are site using the Web 2.0 approach and provided a needed product to the market that was distributed via e-mail.

What he does works very well for him in his area.What he does might or might not work well in Florida.I suggest you find out what the locals guys are doing to make money with real estate.One thing that Mike says that is true all over is that expenses are high as you average them over the years.

Also be sure to call other rental homes in the area to see what the average market rate is for renting.

Average price of home we're looking at is around 500K.

Is there an average cap rate for each segment and area in the us?