This does not include management, budget 10% for a good one on a stand alone. 4% might be generous on a multi like this, I'd budget for closer to 5%. 25% down might get you a little better rate. 

We would then get a new appraisal and refinance to a conventional loan with the acquired equity.Monthly rental rate: $1,400Using expenses of 8% vacancy (1 month), 10% of EGI (management fee), 2% of EGI (reserves), $100/month (repairs), insurance of $732/yr (quote from state farm) and real estate taxes of $3,440/year (just tripled this year but can't challenge until next year)This results in a NOI of $8,229 and a cap rate of 5.92%.Mortgage at 4.5% would be a month payment of $678/month ($8,147/year) which leaves a small cash on cash return of 1.64%.The numbers aren't great but I do believe this will be a high appreciation area in the next few years as more and more people move back closer to downtown in Atlanta.

This might be a little closer to home, but I do not know the quality of their program.

Now that I look at it closer, it's in the city's own guideline so it's in addition to:http://www.sanleandro.org/depts/cd/bldg/bldgpermit...about half way down click on the comIndNewAdd link and it's in a pdf

(Oh, partner, please paint the kitchen, cut the grass and contribute $1,000 for advertising)Good luck ---- Charles

I do own a home that's within a 20 minute drive of the Air Force Base and I am trying to buy a house that's a little further west in the valley (closer to my next job location) and my plan is to rent this home out once I can get the second home.

Use drought resistant grasses and other plants.

That purpose  is different for everyone, but in my experience the closer you aligns the "business" purpose to your" life" purpose, the more enjoyable and productive one becomes.

Once you determine your specific real estate goals, you should definitely take a closer look at the Ohio market.

Otherwise, I am stuck paying taxes and maintenance (e.g. cutting grass to avoid fines;) for something that is worthless.