You shouldn't have to pay any closing costs in a nicely rising market, but I don't know about the Philly "standard."

You can't expect that someone charging below standard rates will provide above standard, or even normal standard, service.2) Nice turn over!

On top of all this there is a problem with the "50% Rule" for expenses, since the BP calculator and others use this rule discounting from GSI, while others still, who are well-known and respected on the forums and elsewhere, discount from EGI (ie after economic vacancy is already deducted).

I'll give my standard advice about quickly becoming an insider in good standing in a small town:  join the volunteer fire department.

Guys does anyone have a standard lease or ideas on truck parking for lease.

Find out if they are all on the standard 20/5 product, what the required down is, is there a minimum loan amount, do they lend against what you are looking to buy etc. 

You should find out from your local building department if they will accept what is known as standard construction plans or if you will be required to have them produced by a licensed architect and licensed structural engineer.Usually if your city will approve your proposal the electrical and gas meters will be installed , after your inspections have been approved.

They both lack a real living room and that would be tough to get top of market 2 bed rents for, but $550 is pretty standard for 1 bed units in that area so if you market to that tenant base you shouldn't have a problem renting out.

Cash-on-Cash Return Cash-on-Cash, the popular real estate investing return, is explained including its meaning, shortcoming, and formulation...Debt Coverage Ratio (DCR) A ratio investors and lenders use to track and compare debt-related outcomes for rental property and measure financial risk...Gross Rent Multiplier (GRM) A quick and easy way to determine whether or not a property is priced in line with other similar-type properties...Internal Rate of Return (IRR) The time value computation that shows the ratio between future cash flows and initial cash investment as a percentage...Loan-to-Value (LTV) A computation related to mortgages that lenders use when financing investment property as a measurement of their financial risk...The Maximum Purchase Price Calculation A calculation investors can make to determine the maximum price they can pay for an income property to at least break-even and avoid a negative cash flow...How to Compute Net Present Value Net present value is explained along with its formulation and use in real estate investing...Profitability Index The time value computation that shows the 'proportion' of dollars returned to dollars invested rather than the amount...Rental Income Property Cash Flow A fundamental look at rental income property cash flow for those of you new to real estate investing...Sinking Fund Factor Know the amount you you must start setting aside on a regular basis now to cover a capital expenditure scheduled in the future...Tax MattersIncome Property Operating Expenses and the IRS Tax Code Learn what operating expenses should be included in a rental property analysis as well as what the tax code says about operating expense deductions...The Recapture Tax Real Estate Investors Face When They Sell The seldom expected recapture tax real estate investors expect to owe the Feds after they sell their rental income property....The Cash Flow After Tax Calculation How to calculate cash flow after tax step-by-step starting at the gross scheduled income...The Depreciation Allowance According to the IRS Tax Code How the IRS figures the depreciation allowance for investment real estate along with its concept, limitations, and formulation...Understanding Rental Property Depreciation and Recapture Tax Rental property depreciation allowance and the recapture tax associated with it are explained...AnalysisCap Rate or GRM?

  $50k minimum is pretty standard on that stuff.