One-time Expenses$1000 - Acquisition Costs (minor rehab, legal, & inspection)Annualized Expenses10% Gross Annual Rent - Vacancy Costs (turnover & lost rent)10% Gross Annual Rent - Property Mgmt (standard)$1176 - Repairs & CapEx ($1 per sq foot for tpical property)$1516.46 - Property Taxes (5 year historical average for typical property + 10%)$1000 - Property Insurance (a nice round number: seller reported that he paid $708/mo for one duplex)$27 - Water & Sewer (average across several properties from last month)$0 - Gas, Electric, HOA, Snow Removal (tenant pays or not applicable)$60 - Lawn Care (I made this number up)COMPARATIVE ANALYSIS:This is my analysis of the five properties that are being negotiated right now, listed from best to worst.Property Alpha (two-flat)$1250 - Income, Monthly (actual)$567.37 - Expenses, Monthly (estimated)$42,000 - Price, Signed Contract36% - Cap Rate (Annualized Income / Price)16.6% - ROI, After Tax (annually, assuming 15% income tax)6.0 Yrs - Until this property pays itself offProperty Bravo (two-flat)$1100 - Income, Monthly (actual)$537.37 - Expenses, Monthly (estimated)$42,500 - Price, Signed Contract31% - Cap Rate (Annualized Income / Price)13.1% - ROI, After Tax (annually, assuming 15% income tax)7.6 Yrs - Until this property pays itself offProperty Charlie (duplex)$1075 - Income, Monthly (actual)$532.37 - Expenses, Monthly (estimated)$55,000 - Price, Informal Discussion23% - Cap Rate (Annualized Income / Price)10.7% - ROI, After Tax (annually, assuming 15% income tax)10.3 Yrs - Until this property pays itself offProperty Delta (SFR)$875 - Income, Monthly (actual)$492.37 - Expenses, Monthly (estimated)$48,000 - Price, Informal Discussion22% - Cap Rate (Annualized Income / Price)8.8% - ROI, After Tax (annually, assuming 15% income tax)13.6 Yrs - Until this property pays itself offProperty Echo (SFR)$770 - Income, Monthly (actual)$471.37 - Expenses, Monthly (estimated)$62,500 - Price, Informal Discussion15% - Cap Rate (Annualized Income / Price)4.1% - ROI, After Tax (annually, assuming 15% income tax)24.4 Yrs - Until this property pays itself offNotice how the price keeps going up?

@Kevin LefeuvreI have a similar story which I'll share, but remember as you read this that I once worked for the original founders of VRBO before Homeaway bought it (and after Homeaway bought it, actually.)

"Oh, and someone else will actually be living in your home, but we will make sure they are golden.

Then the tool that I use to actually 'build' the website is called ProPhotoBlogs.  

@Johann Jells to actually answer your question....I use a Canon SL1.

Actually, if you factor in the ARV it's like we got paid to make more money.

Yeah, I've been looking around the area and it seems the Vickery school cluster is the most pricey (within the West Forsyth HS area) and North is def. cheaper, I actually have been thinking about the new Denmark HS, would you know how they are going to zone that?

They will want to be your 'partner'... do not even consider the offer.If someone has a skill or talent to offer, and that YOU ACTUALLY NEED, make an assessment of what it is worth to you and then offer to hire them for that amount of money.

I visit my out-of-state properties twice a year and it's more than $2.5K when you look at plane tickets, hotel stays, car rental, etc. not to mention there is added risk when you can't drive by your property from time-to-time.

They actually installed the wrong granite.