One of our parks is 60% POH and in my experience the only way that park pencils as well as it does is to get through all the major repairs, get the homes 'right' and then keep them 'right'. 

Today it has doubled in value with only about $75,000 in repair money.

We had only worked together via phone and email for this deal.After all prorations at closing, I was only responsible to bring 6% to the table.

Enjoy $45 off with code JUMPSTART45 I'm not sure if this part copied over (hard to see on my phone) :$45 dollars off with code JUMPSTART45

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

How about repairs ?  

First house in 2021 - no internet to search at that time, remember going to realtor offices and seeing magazines and talking on phone with them about properties available and driving by them as there was no google street view.

I'm thinking of maybe just lumping them into a category under repairs or something but want to see if others have a It sounds like categorizing deductions under a ‘repairs’ category could work as a temporary fix, but it might not give you the full accuracy you’re looking for long-term.

Next, plan on inspecting your properties every 90 days; you can communicate this to the tenant as you ensuring the property is in good order and to help you plan for repairs/future improvements.