If you plan to expand your property portfolio and might use a PM in the future you should increase it to 10%.Once you have analyzed the property with full rent just subtract your unit rent to the results while you live there.

@Michael Pitsos I'm assuming your home is where you've put in your profile and according to the  VA Loan Limits for BARTOW COUNTY, GA for a one unit home (SFR) is $453,100 and $580,150 for a two-unit so depending on how much you bought your primary home for you'll need to subtract that from the max limit and the remainder should still be available to utilize.

Rent is income, and you subtract all expenses: mortgage interest, taxes, insurance, maintenance and depreciation.

You subtract the amount owing on the mortgage from the actual market value of the property.

Mike, so it seems that since my NOI really will be around $3333 a month, then I need to subtract $100/unit to this to figure out my maximum monthly payment I can afford. $3333-$1300 (13 units)---------$2033So this would be around what purchase price?

You need to subtract for any repairs or other work needed.

Subtract that off the rent, then subtract off the P&I part of your payment.

I determine cash flow by subtracting the mortgage payment (P & I only) from 1/2 of the gross monthly rents.

So, if you pay $10K in closing costs to sell it, then you subtract that and the basis off the $130K, leaving you a gain of $2K.

If the current tenant damaged the carpet, then I would definitely subtract it from his deposit and that would certainly not be limited to a cleaning fee.Mike