Hi Mike, Its always great to network, grow connections and see how others approach the same issues.There is a monthly meetup in Manhattan which myself and others will be attending.

On average the S&P 500 / stock market grows at a multiple of real estate (as much as folks on these forums think otherwise).

I started in the game right around your age. 

(Kind of reminds me of Columbus, which is growing even though Ohio has flat or negative growth.)Interest rates are on the rise, which is going to start showing up in the data very soon.  

the business is a legal grow oporation.

Rochester is a growing city because of Destination Medical Center which is a multi billion investment in town to turn it into the Silicon Valley of Medical care and research backed by Mayo Clinic.

@Allan Anderton You would refi so you can pull your cash back out to reinvest into the next deal and continue to recycle your capital over and over again to ultimately grow your portfolio.

@Joseph Ziolkowski, yes, vacancy and cap ex are included, as well as maintenance, property management and property tax and insurance (but not Principal and Interest cost).Nobody can know for sure what its expenses will be in future, hence the ballpark "50% Rule", which can be fairly close in the case of middle-priced, middle-aged, middle-neighborhood type properties.

@Andrew Daaboul It is great that you are thinking of becoming an agent at such a young age.

Dexter has been one of the fastest growing markets in Southeast, MI and is a great little town.