Learning and from Michigan
Hello BP community,
I am new to investing and have many questions but the one I am currently wrestling with is the fact that I want to understand figuring cash flow. I have read some books, blog posts, and am just curious. When collecting rent, is there an average amount you would set aside for "income taxes?" I know there are many deductions one can take with real estate investing, but is there a rough number based on a $80,000 property that's gross income is $1,675 a month? There are 4 units and I am just trying to learn to asses a property right now. So when I am ready I can get a more accurate number when trying to figure cash flow.
Also what is the least amount you would want to make per unit in cash flow before you would deem a property a bad deal?