Acceptable Cash Flow for Denver/Fort Colins
Hi All,
I'd be curious for people's feedback regarding acceptable cash flow on a single family home in the Denver/Fort Collins area, given that our home values are generally trending upwards and on the higher side. I'm going to be turning my current residence into a rental and depending on how much cash I pull out (refinance) I'll be looking at anywhere from $280 - $330 Cash Flow (Yes, after I've factored in PITI, Maintenance, Vacancy, Cap Ex). Currently owe $155K before refinance, current value is probably on the $310-$320 range. Does this seem OK? I know it's not a ton of extra income and I hear stories about people raking in much more per SFH ($700-$900 range). Perhaps they bought during the downturn? What is everybody else netting on similar homes (just in general)?
Thanks for your Help!