Income around $40,000 yearly Expenses $10,000 yearly (property taxes, trash, water, sewer, park license, insurance) What is price I should be looking to purchase at?

Details in MLSUnits: 6Taxes: $5874 (annual)Gross Income: $48,600 ($675 per month)Net Operating Income $38,838Total Expenses: $9762Vacancy Rate: 5%Asking Price: $449KOwner pays Trash & Water______________________________________________________________Based on the expenses I am assuming that the property management is completed by the owner and that they are including ~$4K a year in insurance.I ran the numbers in my own Deal Analyzer and I added:5% of Effective Gross Income as Maintenance Expense 10% of Effective Gross Income as Property Management ExpenseBumped the vacancy rate from 5% to 10%Insurance: $3000 (annual $500 per door)Water: $3240 ($45 per door - typical in city)Trash: $1,800 ($25 per door - complete guess)$12K for improvements ($2k per door)20 year note @ 5% with 20% down (assuming full asking price)2% Closing costs______________________________________________________________My numbers show a Cap Rate of 5.7%, cash on cash return of -5.12% and -$1,668 of annual cash flow. 

@Violet Minnella, I have not specifically used the program that you are talking about, but my experience is that they are only really good for insurance and banking and they are not nearly as competitive in those areas as they used to be.

So you can show up with the Receipt for the Certified Mail - Return Receipt Requested and the JP Court will allow you to proceed with filing the Eviction. 

They bid up the properties to the point where there is no margin left even at an all cash acquisition and then proceed to lose their @$$. 

He proceeded to send me 5 deals that neither of us had seen and they'd been on the market for a few months.

He proceeded to send me 5 deals that neither of us had seen and they'd been on the market for a few months.

Would that effect taxes or insurance to wrap them? 

You will also use it to deduct most of your business expenses.This standard template may be modified to accomodate some specificities, like states where a series LLC may be less expensive than having a different LLC for each.Also you can add a layer of Land Trust for each property for anonymity and to give some due on sale close protection.A lot of people here will tell you that you don't need any LLC or entity structures and that you can do with only a liability insurance.

Taxes and insurance will be $100/mth.