There's lots of great properties that will make great rentals in the Atlanta market in that price range.

If you were going to put 20 units on 2 acres there would have to be another method of dealing with the waste.Also, drilling a well for that much use may trigger some water usage regulation concerning the water table.

Maintenance and utility expenses (Electric, Water, Landscaping, etc)5.

The area I purchased is landlocked, surrounding by water on all sides and is known as the peninsula.

Know your local building codes for things like GFI outlets, water heater tie-downs, etc.

I could have been in really hot water.

If you know you can get the lower income units up to the $450 range and increase yoru gross revenue by X%, then you know your upside value (of course after you factor in the management and accounting costs).

@Mike Hasemann as to depreciation, you still have the infrastructure available: roads, sewer lines, water lines, electric pads, any buildings.

I like deals in the 10-20% range.

The forms had a sample water mark, so I used a pdf editor to remove the watermark.