This particular property came in at 45%, partially as it will have new siding, roof, some mechanicals etc....I also agree with the general feeling of many hear that you are going to have a bit higher turn over in a typical unit like this than a SFH.

After all, when you refinance it, if you manage to find a way to do so, it might require less in debt service payments but its still would be pretty close to breakeven cashflow and possibly begin to lose money as you begin to deal with major cap-ex projects like roof replacement and mechanicals.

Buyers do not want big issues (roof, foundation, major mechanicals)

The age of the structure does not really matter so much as the age of the mechanicals.

You're talking about a low income type area so you should probably budget that to be 15% of gross rents since it also needs to cover big ticket things like mechanical, roof, etc.

If not, search the forums for "IRR" and "Cash-OnCash" and you'll find entire threads dedicated to explaining the mechanics of calculating those two metrics.

Could vary up or down based on the condition of the property and age of mechanicals and big ticket items (e.g. roof, HVAC, etc).

You'll learn the answers to questions you don't even know to ask that way and start to learn all the mechanisms behind the machine.

To analyze you are looking at expenses to income, then the property condition and potential mechanical replacement cost.

You could do a JV and put a mechanics lien to protect your interest.