However, the town it is located in has a population of about 1,300 with no thriving metropolitan area within 100 miles, which gives me concerns about finding future tenants and higher than average vacancy rates.

If so, ask them, and yourself to figure out how much you’ve spent on repairs for the last two years and average it out. good luck. 

Up until the pandemic, I was averaging $800 a month in reservations.

Do I calculate an average monthly income using all our income (salary and commissions), and then multiply by 250%?

It found that about 16% of the local population, or about 400,000 full-time employees whose average annual salaries are at $25,000 or below, in South Florida would be the most impacted.

$40k for closing costs is about 10X the U.S. average.

With 2 or more bedrooms, there is typically more stabilized renter and someone who will stay longer. 1-bedroom renters tend to be more transient and more expensive because of the transition time between leasing contracts.When the average unit size is above 750 sq ft, units are easier to rent and keeping the occupancy rate higher.

Hi Randall,From what i Saw on Rentomete this is on the lower end and below average just to be safe.

Most markets have just now recovered to pre 2008 pricing which puts them more or less in line with where we would expect them to be based on historical averages.

If the average rent in a typical B class neighborhood is $900 and everything in a particular area is renting for $700 then that will tell you something.