your gross rent for the year should be $2,850/ m or $34,200/ yr and not $18,575 for 2014 or $22,477 for 2015. so they claimed less income and charged more for travel for tax purposes it seems. quick break down:$300,000 purchase20% down=60,00030 yr @ 4.5%= $1216.04/m$34,200/yr incomeadvertising - 1000/yrlandscaping - 1000/yrmaintenance - 500/yrinsurance - 1500/yrprop management - 3420/yrtaxes -1900/yrcame up with a NOI = 19,900 - 14,592 FOR MORTGAGE =$5318 cash flow before taxesgives you a 6.64 cap rateto get a 10 cap rate you would need to purchase for $199,100to get 8 cap rate - $248,875 purchasei put in prop management and lawn care, didnt know if you would be handling that or not, but that could change your numbers a little. if you kept your price at the 248, and did management and lawn care you would be close to 10 cap rate and 12,200 cash before tax, so $1000/m cash flow

I would put in the B-C range.  

Put in the title what the population you want is looking for.Good luck!

But I can't wait...I've still been looking on the MLS at REOs and I've been salivating, wishing I could put in offers, lol.  

If you haven't put in the time, don't expect it to be easy for you. 

Hi @Alison RobinsonI love the system you are trying to put in place!

@Kathy Henley We have figured in HOA dues and the building doesn't allow 30 day or less rentals so that would be put in the lease. 

On the negative side, we'll have to put in a septic system, but that's not a deal-breaker.Is there anything else you learned from your research that might be helpful?  

But, next vacancy, we put in a gas furnace for $2900.  

That means you had no money and no personal savings to put in to marketing, down payments, etc.Follow-up question.