So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

Effective communication and setting clear expectations are essential.

I will have about $225,000 in it total and expected to sell at minimum $325,000. 

Even with rents increasing at a rate of 2-3% per annum (in an actively declining rent market today) vs stable mortgage payment above, the later wins.Buying at the peak is never a good idea, even if you went to a Grant Cardone seminar and wear a 10X t shirt at night. 

I was expecting it to be higher, but that is still huge.  

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Just read an article that Cape Coral is expecting 1600 foreclosures this month. 

They are friends moving for a year to test new waters, and we all expect that next year they will not move back and I will buy the property (and add to my STR portfolio). 

If the project is a more vanilla, long term rental play, then a lower return on investment can be expected.

Quote from @Keegan Mraz: What's a good amount of expected cash flow to look for, for a first time investor looking to house hacking a 2-4 Multi-Family Unit?