I usually get charged 50% of the gross monthly rents as well on new lease up fee's however renewal's can vary as well.

Tom Asking price: 840,000Gross rents @ $485 avg: $162,960Vacancy @ 15%: $24,445Effective Gross Income: $138,515ExpensesProperty Management @ 10%: $13,851Property Taxes (2013): $9,412Insurance: $9,800Reserves @ 5%: $6,926Maintenance (plumbing, electrical, misc.): $11,000Association fees (Lawn, Trash, HOA, Grounds Insurance): $7,280Pest Control: $1,344Write Downs / Bad Debts: $2,820Total Expenses: $62,433Net Operating Income: $76,082Cap Rate: 9.1%

Anticipated gross rent $3,000/month.

When I bought it gross rents were $3,000 within 1 year (when I was able to move out) I had gross rents at $4,200.

.)-  Acquisition Price-  Cost of repair & fix-up-  Carrying costs (how much did you have to pay for monthly loan payments, taxes, insurance, any operating expenses & fees you paid until you sold it)- Unexpected Expenses_______________________= Your Gross Profit before income taxesIf I may make a suggestion, rather than getting academic about the ins & outs of a hypothetical deal & strategies.  

But with the price difference between the two markets I was able to buy a much larger property than I had in Denver, with much higher gross rents, so it's not such a hit to the bottom line to make that trip.

$5000-$10,000 Estimated repair costs around $11,000 per unit when figuring in roof costsEstimated repair costs of $104,000 for both buildingsI could offer $64,000Repairs would be $104,000closing costs $2000Estimated all in costs at $170,000Estimated Gross Income of $43,800vacancy 5% $2,190property taxes $3,000insurance $2,000maintenance $2,500snow/mowing $800utilities $1000pm $3,500garbage $1200water $1500Estimated Fixed Expenses $17,690Estimated Net Income $26,110Anyways I wanted to get some feedback.

However, you can make a big dent in that goal, and can work on acquiring more as you get back into working in nuclear power.If you keep your expenses low, use the cash flow from your new properties, and any other surplus from your job, you should be able to get up to that gross income goal eventually.

We put new hardware on a lot of doors and cabinets and they were all gross by the time we got the house back.

Then after she gets the loan paid off she has close to a half million in rental properties. 5 free and clear houses would gross $3750-5000 per month.