I have run this same formula on even lower priced properties that need much more work, and never end up with good cash flow.

Thanks @Russell Brazil we will be managing the property ourself as far as yard work and regular maintenance.

@SURESH KANNAN it's out there but I strongly believe it's better to figure out how to model your own so that you get "finger tip feel" for how the numbers work and relate to each other.

Real estate is not my full time work, and I self manage all units.

Remote work and people 'paying to play' in mountain paradise!

There is really no other way to become a successful investor or find partners without doing the dirty work and getting your name out there.

Get caseworker approval to put limit on utilities that if exceed either require tenant to pay or terminates lease.3) Tenants not paying their portion of rent & utilitiesSOLUTION: again, screen S8 applicants just lke other applicants.Too many landlords get a S8 voucher and take shortcuts on screening S8 applicants. 

The tenants would put "puppy pee pads" at the end of the hallway when they left for work and the 3-dogs would do their business there throughout the day.  

Because I was of the  same view as Manuel Diaz, in terms of thinking that 500 K triple Decker in JP were a thing of the pass but would love to hear how your experience turns out.Personally, I looked at one last week before it went on the market in JP it needed complete gutted renovation work and the  asking price was 650 K.  

I would like to be a full-time real estate investor (the sooner the better, I am hoping for 3-6 months) but I also know it is hard work and I need help.