Nolo Press, Realtors, other investors and usually even your local office supply store.

Gross Annual Income $28,800 Vacancy Loss 10% $2880 Adjusted Gross Income $25,920 Property Mgmt: $1944 (7.5%) Maintenance/Supplies $2592 (estimate based on 10% adjusted gross income) Water/Utilities $0 (tenants pay all utilities including water/sewer/trash) Annual Mortgage $12,036 (includes insurance, taxes, and PMI in payment) Estimated Total Annual Expenses $19,217 (mortgage/taxes/insurance/PMI, vacancy loss, maintenance, property management) Estimated Annual Income $6708 Estimated Cap Rate 12.33%

When the prospects walk through and they ask about the appliances I say that most of our tenants have their own but the landlord will supply them [stove & fridge] for only $49 per month.

Half of all SFR's in most of these towns are RENTALS.. so there is a huge supply of rental stock.Then you have the purchase of the property it self it goes like this.Local investor wholesaler sells to local rehabber.. ( profit has been made in this transaction) Local rehabber sells or markets with local turn key company ( profit is made in this transaction) then if the local turn key company does not have a proven marketing arm then they hire West Coast marketing folks to sell the properties for them and then yet another fee is added to your eventual purchase price... ( this leads to inflated price's for the end buyer)...So in your hunt I would suggest you try to go as direct as you can to the assets.

rent movement is supply and demand dependent each market, sub-market, and area will vary.

You're looking at new water supply lines, new drain lines, electrical, etc.

Landscaping - $500Appliances- $2500Refinishing Cabinets- $200- Very liberal estimateFlooring- Carpet upstairs, hardwood/vinyl tile downstairs- $3,000Miscellaneous fixtures, bathroom vanity, toilet seats, supplies, etc.- $2,000Total: $11,000I will be doing most of the work myself, I have a family member who has worked in remodeling for the last decade to work alongside me. 

It isn't a "bad" neighborhood in terms of crime and abandoned/boarded homes; it is probably a solidly blue collar neighborhood supplying the airport and surrounding businesses with employees.

Title companies can supply some data.Trouble with any source except the MLS is that information about the property and any seller concessions aren't recorded. 

Let's PM to coordinate a place and time.As far as your friend's place, in those numbers there is no room for capital expenses, regular maintenance, utilities (in NY heat and hot water must be supplied by the landlord), or vacancy, so I wouldn't consider his cash flow to be $300/month.