I am not the typical BP person because I just don't believe in "passive" income. 

I figured that before asking and running the numbers but wanted to see how much margin they typically use.

@Matthew Brill  In typical Rich Dad fashion... you found a way to say how can I find the property I want, as opposed to shutting off your brain with the predetermined notion that you can't find it.

We were "driving for dollars" and found a house in our neighborhood that has all the signs of neglect: tall grass, exterior needs painted, no deck on the back and sliding door is sealed off.

Interesting that it is a converted hospital, my first thought is that it's probably built waaaay better than the typical multifamily which is usually cheap as possible.

Here's an example:  typical 1-fam 3/1 1,200 sq ft house will sell in a B to C area in Queens for $700--800k. 

Some of what I have read said that monthly rentals are typically more, but perhaps that is only for a new tenant, rather than a steady paying good tenant that you know.

I typically buy in B-/C neighborhoods where none of my multi-family rentals have AC.

With a house hack you can use an FHA loan and only have to put down a couple percent I typically hear 3.5%.

When house hunting, unless you want to purchase your own kitchen, look for homes which include a kitchen in the rent price, this is typically displayed as “EBK” or Einbaukuche” There are few expats who move to Germany with their kitchen sink in hand, so ensure your know and expect this before visiting a kitchen-less home.9.