You have to set up a RULE to do that.

It's hard to say there is a set rule.

The rule of thumb is that expenses run about 50% of rent over the long term

I have read several posts regarding the 2% rule and the 50% rule, can anyone briefly expand on these two rules?

The usual rule is 80% improvements, 20% land.

It is possible to make money with them but the chances are not good (in Texas).I say this because investors took advantage of some large loopholes in the system a few years back and the state changed the rules (as they should have).If a HOA forecloses on someone, it is because they have not paid their HOA dues.

There are a lot of statutes and rules one must follow.

If you use the search function at the top of the page for 50% rule or 50% expenses, you will understand what I'm talking about.

Forget the 50% rule or other things when it come to the expense.

Post or hand out your rules and credit requirements at every showing, making it clear you are a no-nonsense landlord.