. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

Would you mind sharing the PM firm you decided to go with or are you self managing?

She's a total pro and keeps us posted all the time.You're in a great market and you have the advantage of self hosting.  

@Kenneth Hynes - Not sure of the cost in your part of the world- but in the Omaha area, refinishing hardwoods runs around $2.75/sft, including the stain and poly. 

Are you as good at MF or self-storage as you are at your business?

Writing this post mostly for newer investors looking to get into Real EstateIt's tempting as a newcomer to fall into things like "off-market" "exclusive" etc. 

I think it would have been extra challenging in my case since I had a large low area that needed self leveling underlayment in addition to the rest of the floor that would have really benefited from the plywood underlayment, and I've been told it could be difficult to install the plywood over the SLU.  

To calculate the price per unit in an apartment building with common areas, you'll first need to determine the total cost of the building, including the common areas.

Hi John,The value of an extra bedroom is generally the largest among those three items, and it is much less complicated to do than adding a bathroom which includes all the plumbing.

Property Management: If you plan to self-manage the property, set up a system for rent collection, maintenance requests, and communication with tenants.