We're buying nice high risk/high yield properties in decent areas, then rehabbing and updating them with a goal of about $50+/mo higher rent than average rent estimate.  

In the last five years, Atlanta’s job growth averaged 2.3% annually, outpacing the national average of 1.6%. 

I also looked at the rentomemter site and my tenants pay an average amount of rent.

One of the properties is listed for 200k, rents for 1870 a month and I've calculated an average of 724 in expenses per month (going overboard with CapEx and it has a 2 year old roof).

For someone that's not as conservative, or a different view on the next recession, they might have a different opinion than me on all of this2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Purchase price has nothing to do with cash flow.I calculate cash flow as rent - 30% (vac, maint, capex) - PITI = true average cash flow.

I have a full-time job and my short-term goal is to get my feet wet and have a property that generates cash flow of roughly $800/month, on average, after expenses.

I also have about 3.5% saved of the average price of a multi-family in the Bronx.

Take for example KC market since 2013, average rent has risen $690-$1050 as of 2019.

What is the average closing cost and carrying cost in Southern California?