Just my opinion however.Here is a stabilized look at the property:9,500 market rent (all 14 units at the rents you mention above)- 15% for vacancy, concessions and loss-to-lease = $8,075 effective gross incomesx 50% expenses= $4,037 monthly NOIx 12 months = $48,444 annual [email protected]% cap rate (lowest I'd go in this area) = $569,292

I also do the pro-rata allocation like others for general items not attributed to one property.

@Alex Agafonov@Jon HoldmanJon is right repairs or improvements done prior to the rental entering "service," is added to basis however interest and incidentals like property tax can be itemized on your personal schedule A.

I just don't use a realtor :)I can't provide my "exact" lease put i put together a list of all the "items" i put in my lease.

By removing these items from my DTI i will be down to (2000-720-250) = 1030 out of 3000 (45% of income).

And just to expend the topic - what are yours line items for a yearly maintenance on your SFR rentals ?

The banker/investor wants a few items before loaning me the funds.She wants a mortgage file of record ; to hold 1st lien position ; and wants a promissory note. 

Some details:Purchase: $45,000Rehab: $40,000 (This includes 15% unexpected cost)ARV: $150,000Annual Taxes: $4,000Rehab is scheduled to be 8 weeks, which includes kitchen, bathroom, add powder room, build deck, finish basement, refinish floors, paint, landscaping and a few other items.

As for private lenders, that's a different story since they are individual people who may be happy with the arrangement you propose as long as their investment is secured and they receive the return you promised.I would think that the rates you would pay a private lender would make the investment a loss since you're going to be paying a higher rate.

The following is a partial list of things that wear out or become outdated over time and eventually need to be replaced for every property:-Roof-Siding-Hot water tank-Furnace-A/C system-Electrical system-Plumbing system (inside)-Sewer service line-Water service line-Any concrete exposed to the elements (sidewalks/porches)-WindowsIf you calculate the cost of replacing each of those items and divide them by the expected useful life, then sum that up, you'll come up with a monthly amount that you can expect to spend on capex over the long term.