Your denominator is $25,000 (down payment, closing costs and repairs upon acquisition)You numerator is rent less the remaining expenses ($1,400 - $963) = $437 x 12 = $5,244 I would adjust vacancy and capex to about $250 (from $160) so $347 x 12 = $4,164.Is this a SFR?

Hello all, I'm a passive investor, my main business is in adjusting insurance claims as a public adjuster.

I think, with more time and experience your views may adjust a little.

I'm definitely going to talk to a lender and CPA and try and get my finances adjusted when i file my 2020 year.   

As mentioned, there are other strategies to achieve a better risk-adjusted return (lower risk, higher chance of a higher return) than SFH. 

According to a report by the Austin Chamber of Commerce, Austin's seasonally adjusted June unemployment rate is 6.4%.

(and then later adjust leases so tenants pay their own utilities) It's a significant extra cost, though I do like the idea of the combi units in principle.

Given this new information, back to my original question - are folks adjusting their underwriting now assuming a potential downturn or operating as they were prior to COVID-19?

Then when you bought it they may have come out to read it and adjusted their original math for losses, or just mathed it based on another seasons math.For instance summer math may be greater than winter math, and based on when YOUR initial read took place, the amount on the meter used vs the amount paid to date may have been you initial starting figure for your math estimate.

I like the CSprings area and I agree with the approach although I would adjust my target and look down range a bit.