Their interest and payments are not calculated the same.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Now after calculating, my entire property management costs are coming out to 15%-22.5% of rent, varying by company. 

@mike @Mike Cumbie I've been in this position before and would offer to put down some silly extra EMD to get the seller to stay in contract.

Expenses are in the 50% rule, and including mortgage, vacancy, and rest of calculator expenses including property mgmt I would be clearing about $350 a month. 

Yes, I would charge extra for an outdoor dog.

Most of the time the money you save on buying the material is spent on the extra time it takes for someone to install it.

Any calculators similar to the one on BiggerPockets for residential properties out there you recommend?

I bet you could make quite a lot with it that way if you're allowed and willing to do the work.All that said, I agree with the posts above that said to basically calculate out your ROI on it and compare that to what you could get with another proposed investment.

Find a deal that will make you money buy good liability insurance and when you start making money find a CPA to help you keep some extra bucks and a lawyer to protect the bucks you have.