Your listed Op Ex (including PM) is only $905 (giving you $363.89 CF).  

@Ramsey Blankenship Did the OP not say he is self-managing his first property?

OP, is there some group of New homes somewhere that would make good rentals?

I Just don't know where yet...To answer the question posted by the OP, many of those folks don't have the mortgage and leverage in order to by that today ... they bought back when it was a little 500k Rancher in Carmel.

There will be some uncertainties in your projections, so best to make sure you have sufficient profit margin (aka margin of safety) and cash reserves to cover these unknowns and maintain multiple profitable exit strategies in case they are off.Please note that this sort of analysis is much more in depth and fundamentally different from the analysis presented by the OP ... however, she asked if her analysis was right, and IMO this is what an analysis that is "right" would look like.

That is your profit after the fees from the sponsor are taken out.Here is a guide to investing in a syndication: https://www.biggerpockets.com/blogs/10145/83067-li...Here are articles written more for the sponsor, but may have good information for you:https://www.biggerpockets.com/blogs/10145/73373-op...https://www.biggerpockets.com/blogs/10145/72118-sy...

I didn't read it as the OP trying to commit fraud.

Tell me everything because I know nothing and haven't doen any of my own research."

Thank you to all those that responded and to OP for posting the question.

I used to be as black and white as the OP about this subject until I actually went to a few of the really large events.Sat and talked to attendee's that paid 30 to 40k to go.. many frankly were real estate brokers... and other professionals.I do think though pounding on folks who have no money and getting them to run up their credit cards to pay to go to the event is something I am no totally comfortable with.. but then I think of that little company called Hewlet Packard and think back on how they started with a 10k loan in a garage in Palo Alto right down the street from were I used to live.. were did they end up.So when I go to these events as an invited vendor..