Makes me think it's super expensive...

Capex/repair expenses?

Hi everyone,I analyzed the deal below and found out that if I had a property manager, accounted for other expenses, and put in an extra $20,000 for rehab costs, I will cashflow $270/month. 

I have a few expenses coming up like college tuitions for two kids (perhaps even grad schools)  that I know i have to budget for, and the BRRRR approach seems to me the best route for that, and plan for my eventual retirement.    

Also, turning over a house is much more expensive than turning over an apartment.I would suggest buying something in the Seattle area.  

This way you will know that the effort and expense of getting the license will not be wasted.  

What can be more prudent (and personal) is to have ballpark estimates on when major cap-ex expenses will arrive.

If you are referring to expense categories, why not use the ones the IRS requires when reporting rental income!  

I'm using classes in Quickbooks to keep track of my properties but how do I classify the expenses for the property we didn't buy?

Anyway I'm making right around 550 a months after expenses, in the mean time I was working in a restaurant that I opened with my friends, I owns about 30% of the restaurant and I make right around 8000 a months from revenue and salary, I was working around 70 hours a week.