In my formula, the property has to cash flow or cash flow in a reasonable amount of time due to management. however, I typically do not take any money out of the business as it is for college education for my children. therefore, I am putting everything back into the properties which covers the capital expenditures that are needed. so if you want/need a certain amount of income I would add a cap expense and increase the maintenance.I am currently looking at a 96 unit class c property that appears to be similar to your example.

That's not including a wife and two children.

I know there is a lot of talk about spam and scams, blah blah blah… but I've always told my wife and now I tell my children, "if your serious about selling something, put a contact number obviously displayed for someone to get a hold of you".  2.)

You will never regret love and attention you put towards your children.

Although you'd be surprised by how many people have in-laws or adult children that they do/don't want living with them.  

I've met his wife and children too and have had dinner with them a few times!

A fence can add value to a property and make it more desirable, especially for families with small children and/or pets.We had a tenant who asked to install a six foot fence.

I didn't want my children to have to live a life with nothing.

I am careful to do all disclosures because lead is a serious inhalation and ingestion hazard (think children), Asbestos is handled the same way.

No problem investing in student housing for children, this is commonly done.