., there is no simple formula, as you need to look at upcoming Capex items for the rest of your projected hold period, and need to factor in appreciation (or stagnation) of values.  

That puts you in the low end of that 3-5% range to essentially just break even from any external economical factors increasing your expenses.

Running a hotel and having a longterm rental are two different businesses and that's not factoring in the up front costs of furnishing.

For sure cant forget about that .i did factor it in my CDS rental calculator They say after the 1st one the next one comes easier so I guess we'll see..

Factoring in tolls and gas I’d be paying around $200/ month.

@Rita Naga...there's too many factors you're not mentioning and I agree with both @Marty Johnston and @Chris CambridgeJust back of the napkin off the numbers though running backwards - if your NOI is ~$86,000 and rents are $595 now, then just guestimating at a 45% expense level, this is ~20-22 units??

It's important to factor into how long it could take to get contractors when buying in the area, especially as we get towards the colder months. 

Once side, Attorneys and suits take time/effort but on the other hand, we have to fight for the unfair/unjust treatment, so they don't abuse others.

Most of the "tasks" to consider here are the following: Zoning/Permits- Biggest factor here is time/Architect and possibly engineers for underpinning.

Than run numbers both ways and you’ll of course have your an answer in terms of net worth that factors in risk, inflation, appreciation, and other assumptions.Do you want maximum cash flow?