If the exemption is 100% you'll notice several lines (School Operating etc.) that list a millage but have $0 for the taxes.

I am figuring 58K 'All In' The current rent is $700, but I feel it could easily be $850 or so, but I am basing my figures on $800.The house has had new roof, windows, siding, water heater, and flooring in the last few years.My rough figure are;8800 Operating Income$3800 Expenses (only about 40% since all the recent upgrades)$5000 NOI - $4000 Debt Service= $1000 Cash FlowNot quite $100 'per door', but I would also be building equity at about $100 a month, along with likely appreciation of $100 - $150 month.

@Michael B.thanks for that idea, I have the kick plate removed, and we are running the dishwasher right after dinner, rather than scheduling it for around 2 am, and so far its working through this latest polar vortex.The kick plate had a lot of foam on it, I guess its mainly for sound insulation, but I suppose it was keeping the heat out from under the dishwasher, and the cold air from the outside wall was enough to stop the pump from operating?

I now oversee the day-to-day operations for our MEP, insulation/air sealing and renewable energy crews (which is actually only one crew right now; we're planning to expand to 2 - 3 crews this year).

However, if I am remembering it correctly, the take away I had was that you should strive to operate like a business.

A high cap rate could be the result of a relatively high net operating income or a relatively low purchase price or a combination of both...

@Josiah Halverson I don't know the ins and outs of how those guys you mentioned operate but this has been my assumption.

That helps dramatically when trying to organize... and then not really knowing what I am organizing...

One which has provided me the opportunity to successfully operate my contracting and property managment businesses for the past twenty some odd years.

I've been organizing meetups in Oakland once a month, and we'll be having another one (w/ date TBA) in Feb.