Here are the numbers:Market Value: 210KPurchase Price: 140KRehab Estimate: 25KCash Invested (Down Payment + Closing Costs): 38K (65K if I cover the rehab)Gross Rent: $1650NOI: $300-600 Estimated Cash Return: 19.17%Here are my questions:1.

She mentioned that with fully renovated units (more like Option #2), a monthly gross income of $3300 or higher is expected.

Well, if they're the same type of lease (NNN, mod gross or full service), then just do a cash flow over time.  

I eventually quit in June partly due to frustration but mostly because I just closed on a $35,000 gross profit wholesale deal. 

My strategy is that 6 months or less of gross rent should pay for the purchase price of the house. 

I used to own the duplex at 160 Oakland - bought it for $75K in 2006 and actual gross rents were $1,200 (including a substantial rent break for a long term tenant). 

I have found a few in Grosse Pointe. 

Yes, a prorated percentage is fine.However, these particular expenses are IRC Sec 280A expenses as the grounds/land improvements/etc are appurtenant to a dwelling unit that you use as a residence.They are therefore limited to gross income after certain other deductions.  

@Rene Smith The management fee is usually a percentage of the gross collected rent, but you’ll also find rental property managers who charge a monthly flat fee.You can also check this link from one BP blogpost : https://www.biggerpockets.com/...

So, with avg gross income of $3200-$1400(HOA)=$1800.