That extra $420 a month in assumptions (which brings your expenses to about 60% of Gross Rents) brings the cashflow of your proposal to $140 per month.In your assumptions you mentioned about snow removal and lawn care, yet haven't included any consideration for it in your financial analysis.  

This is the step which will tell you if you need to pay down your student loan/car loan first, before attempting to buy the kind of real estate that you want...Incomes on one side (include your job - monthly gross, 50% of the rents you would expect to get from the other units) and one the other side, your debts (monthly car payment, monthly student loan, and an estimated monthly mortgage payment ) - if your ratio of debt to income is less than ~42-44% then you won't have to pay your loans off first to start investing.  

Also, I'm not sure if you'll qualify for the loan based on your income. 3,800 a month is your net or gross salary?

Even the gross tenants can't change the fact that we love real estate.

Place is foreclosure and is old and gross so will need furniture, and big remodel.

The 2% rule is a form of Gross Rent Multiplier.

Typically I use 5% of the gross income.

Gross return 65% per year.

And of course I have done far better on some deals.the Carolina deals are going to be pretty good I am thinking 50k ish in 6 months.New construction we shoot for 10 to 15% of gross and we hit it most of the times and sometimes 20% if we do better means we got a super buy on the dirt.At the end of the day I shoot for all my activity to return about 30% apr cash on cash that's the goal.

The first is the term which tend to be multi-year and up to ten or twenty years with tenants having the option for one or more renewals at set rates and terms.Because of their long term nature many commercial leases also have built in increases in the rent which may be either a fixed amount, a certain percent or based on some sort of inflation index.The next piece is the structure of the lease which can range from Gross (tenants pay rent and utilities, similar to an apartment lease) to true Triple Net (or NNN where the owner pays the debt service and maybe the property tax but the tenant pays for everything else)... and everything in between.Another component is Tenant Improvements or TI and who pays how much for it and who performs the work.