I usually recommend quoting all your anticipated expenses as a proportion of maximum gross rent, so if your expenses (not including your mortgage) arrive at MORE than 50% rent, that's not good to see (and, can they be reduced)? 

To the people in favor of a discount for early rent- Have you run into an issue with tenants claiming they sent the rent check in before the 1st but it didn't arrive until after?  

In email conversation with an agent about an 8 unit property, I questioned how she arrived at the ask price considering the income, expense and cap rate figures she sent me.  

Purchase price: $300 Cash invested: $1,620 Sale price: $22,000 This property is a *perfect* example of the system I am currently using:Bought the house at the end of Oct. for $1,920 all in - including taxes & property preservationHouse needed junk removal, had an abandoned MJ grow set up in the basement, and had a HOLE in the ROOF - but I did NONE OF THAT WORK :)After buying, I had to wait ~6 weeks for the deed to arrive (the county processing time) during that time I marketed the property for sale AS IS on FB Marketplace & Craigslist.

The property I had was ag, with residential use which is common.Residential  appraisals begin disallowing more than 20% in land value to arrive at a market value, secondary market isn't in the ag business or commercial arena.

I ordered the Long-Distance Real Estate investing book by David Greene but am awaiting it's arrival.

No one has a crystal ball you don't know what the market will do or if the up and coming neighborhoods will arrive or dwindle down.

This would take some pressure off of me financially as my wife will be quitting for a while after the new baby arrives.

Area is so popular people are signing petitions about parking becoming an issue on our residential streets.

@Mazin El-Achkar how did you arrive at $400 as the proposed PI payment?