Posted by B.L. Renfrow on June 05, 1999 at 18:46:18:
You don’t mention how you arrived at the $44.9K figure. Comps? Also, what are market rents for similar property?
IF your numbers are supported, then your figures sound pretty reasonable to me. Depends also on whether you have an underlying mortgage or if you purchased with cash. If you have mortgage payments, you obviously want to make sure the spread is enough to support PITI and provide some cash flow, since you don’t have a large back-end profit.
Also, I wouldn’t be in any rush to provide appliances; let your T/B provide them, or if you must, get used, not new.