If you own 20 rentals for 10 years, it will all average out.

As someone who actually has a degree in Real Estate, and works in the real estate investment industry, it all depends on how deep you want to go down the rabbit hole.

First, How big should a newbies buyer list be (on average)?

This is more a rule for single family houses than apartments, but still a good rule of thumb for apartments as well.You can argue whether an experienced landlord in specific locations can ever get expenses lower than 45% on-average, but I think 99.9% of experienced landlords would never honestly believe you could get expenses anywhere near where you have them (25%).You can take Mike's advice and plan for 45-50% expenses (he has dozens of data points to support it), or you can stick with your own estimates, and consider it a learning opportunity a couple months down the road...Good luck!

Michael Kimble has achieved stunning success in the information marketing industry--probably second only to Dan Kennedy himself.I doubt that Michael Kimble has ever actually personally applied the investing techniques he espouses in the information he sells.

I have since gained invaluable knowledge of the construction industry working as a General Contractor.

Prices are dropping about $5K per month on average.

Hello Everyone;Ray E. here...Just came across the site earlier today and thought I'd sign up and say hi.I'm new to the REI industry and am excited about the possibilities.

Using historical data, census bureau for income and NAR for housing prices, from 1968 to 1999, housing prices averaged 2.769 times yearly income.

What he does works very well for him in his area.What he does might or might not work well in Florida.I suggest you find out what the locals guys are doing to make money with real estate.One thing that Mike says that is true all over is that expenses are high as you average them over the years.