My favorite is using the Intuit Self Employed App because it automatically tracks miles as part of the monthly price and updates your expense tracking.  

Both offices had a good handful of bodies at the locations along with a few appeared to be customers onsite, but i'm a little worried about all the fees and monthly expenses i was presented with along with the commision rates.

My question is, are those good enough margins after you calculate additional expenses?

Expenses (in addition to P&I, insurance and taxes) being 3% vacancy, 5% repairs, 10% cap ex, 7% property management.  

The first thing that comes to my mind is to reduce expenses and bring the P+I down as much as possible to reduce overhead and provide a cashflow buffer.

@Charles S.The 50 % Rule States: That 50% of gross scheduled income (GSI) goes out over time to cover expenses not including debt coverage.The 1%, 2% and the 50% rule is meant to act as a quick analysis tool, to insure the deal is actually deal.

Great area - here are my numbers: Monthly Annual Purchase Price 168,500   Monthly Rent 2200 Cash to Close (20% + $4k close costs) 33,700   Annual Rent 26400                 Property Tax $375 $4,500     Insurance 100 1200     Mortgage 835 10020     Vacancy (5%) 110 1320     Repairs (5%) 110 1320             Total Expenses $1,530 $18,360   Net Income $670 $8,040   Net Income without Mortgage $1,505 $18,060       Cap Rate 5%       Cash on Cash 24%    

After some half-assed, yet still expensive repairs, I got a home warranty.  

I purchased a condo in the expensive LA market for my primary residence.  

Having this in mind, I'm having a hard time deciding if I should purchase a more expensive (160k-190k), new property Triplex (built within 2 years or purchasing a property that is cheaper (120k-150k), already tenanted but it is only a duplex.