@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.

I believe real estate investing is one of the best ways of doing this.In short, My long term goals center around:Health: My well-being, Relationships (Everyone in the world) and their healthLearning: Education and Growing experiencesAdventures: TravelWealth: Reinvesting in Real Estate BUT (secret #1) I believe my highest purpose is; To love others and enjoy my journey, as well as help others love and enjoy their journey, no matter their circumstances.

Short-term under performance shouldn't be a concern if you've bought in a growing market at a low basis. 

LG has lots of rural parts and a population of maybe 5,000, but it’s a good area and it’s certainly growing.

In addition, the fact it is the norm to have the ACs enclosed (as to not have copper wiring stolen) was a red flag for me.It definitely works for some investors & they do well out there, however you’d really have to prove to me it was a good long term growing economy.

In the mean time you would have a tenant who is growing more angry with time.

Did you look into things like ages of roofs, major mechanicals, etc?

I am quoting this because "you can say that again" is superfluous in the digital age.