@Timothy Allen when I say networth ROI I mean make sure you add into your "return numbers" the following:- loan paydown- appreciation with a 2-4%/year assumption- tax benefits of depreciating your home and getting part of the rental income tax freeI have a great spreadsheet that I can send you to help calculate all of these things.

If you change your assumptions to be more conservative, say 10% vacancy, 10% management, and 15% capex, you're close to losing money.

I will explore Urbana and Rockville but I don’t know why I have this assumption that Rockville is out of my price range.  

In my mind the cap rate for each deal can be different   And of course the next question is how reasonable are all your assumptions for every income & expense line item.  2.

I'm making some assumptions here based on the limited info provided.

I would suggest you consider assumptions around the following expenses:- Vacancy Factor (Taken as a deduction to gross rents)- Taxes (Assume higher takes in the future)- Maintenance/Repairs - I would suggest 7% of gross rents as a starting point- Management Fees - Depends on your local area and what managers charge.- "Releasing/Unit Turn" Fee - The cost to "turn" a unit including repairs as well as re-leasing.Once you add in all those expenses beyond your PITI you'll have a better idea of the Net Operating Income (NOI) and what would be available to pay off your monthly debt service. 

Too many assumptions. 

We ran the numbers assuming the current sub-market vacancies but there is a flaw in this assumption because there has been a lot of large new construction 100+ units buildings that are now on the rental online and on the market.

It more of a capital and lease-up assumption.

@Evangelos Mavros I'm going to make an assumption (correct me if I'm wrong) that you are looking for an investment property to use as STR/vacation rental.