If you know your town/city and actively analyze the competition, then you are in a far better position to know what the market rate is, in my opinion.

I appreciate the positive attitudes, even though there are some trolls in here as well.

I would think if you want to broker real estate those folks should just get a license.Also Robert let me ask you .. our state of Oregon is really cracking down on unlicensed wholesalers what's the state of NV position on selling real estate you don't own.. or brokering without a license.. do they just turn a blind eye or what.I made one comment one time about doing a loan for someone In Vegas in Bp and that generated a letter from the finance division of the state letting me know I am not licensed to do loans in NV and if I did I am subject to penalties etc..

Having positive cash flow including any debt service paid plus any other indirect expenses on day 1 of ownership is usually the way to go.The more units, the better. 

Part of me says if I currently have close to $17K in annual positive cash flow, after expenses and vacancy's, repairs and cap ex held out, that I should pick up another 2-3 house to get that cash flow over $25K. 

@Marcus Rodger, I see every limited value in a lot fo books, especially about things like gearing and tax as the laws change frequently.In the NZ market the basic precepts are fairly simple.If you can afford to negatively gear safely and you have decide it is a safe enough strategy for you then pick the market with the highest likelihood of capital growth, which is generally, Auckland, Wellington and Hamilton, and start investing.There are markets where you can still buy cash positive in New Zealand but you need strong local knowledge and good boots on the ground to buy well in many of those smaller areas.

The positive for you the buyer is the low down payment. 

Overall very positive feedback from tenants about using these locks; I haven't had any issues

The level of service you will most likely get using "flat fee" services will be best described as "half-assed", you probably already know that, and the lackadaisical approach may lead your property to have negative exposure instead of the positive exposure it needs.

And we didn't just slow down the cash burn, we stopped it :) Looking at all their income and expenses, they will be cash flow positive annually.