Some budget by unit, some budget by building etc. just be conservative in your estimates so you don’t get surprised later, but not so conservative that it’s keeping you from ever having numbers that work.As far as percentages go, I typically use the following but are ALL subject to the specific deal the are budgeted for.Repairs/CAPEX: 10-15%Management 8-12% (usually 10%) Vacancy 5-8% (area dependent)25% down (always be prepared to do this-twice banks have needed 25% down from me instead of the original 20% agreed upon)5% interest (changes with the current rates)Don’t forget to budget for things like insurance, hoa fees, lawn care/snow removal, taxes, and CLOSING COSTS. 

.$1250/mo rent might be still high for the location and condition of the house - we don't know specifics.You hav to consider all the ingredients of the mix and this one doesn't look like an investment at all.You have to buy with a discount at least 15-20% of MV......otherwise it's not a deal.Then, the Rent projected has to factor all real expenses: taxes, insurance, %% on mortgage, HOA if any, utilities and other holding costs until it's rented or sold.

Especially standard protocols for every flip - like certain things to always make sure are done or be aware of (watch out for busy roads, flood plains, power lines overhead or nearby, no carpet in kitchen - bathroom - eating area, not next to apartment complexes / commercial developments, proximity to public transportation, HOAs, etc)Not sure if something like that is out there I can get or purchase - everything is in my head from the past twenty years I've been flipping homes and I need to get it down so I can eventually walk away from the business but have it still operate like I am here everyday.Thanks!

@Aaron DiCaprioWe are actually going through some issues with our HOA over a legitimate ESA dogs that our tenant needs due to his actual disability.

And we have strong-arm HOAs down here that would make third-world African dictators jealous, so that makes up for it a bit, as well.And honestly, for the most part, the market also plays it's part. 

Sounds like a good deal, congrats.What is your monthly HOA fee?

Hi everyone,I am in the process of buying a condo and reviewing the HOA docs.

Would a condo on the beach, with high HOA's, cash flow better then a fourplex a few rows back?

Harshil,You can start with condo's, but ensure the HOA fees will still make it worth your while!

Taxes, HOAs and competition with owner occupants really throws off the numbers.