In addition to income and expense tracking, some also offer doc storage, automatic bank and mortgage data imports, tenant screening, rent collection, etc.When you get even bigger and start investing with partners, some rental property owners choose to go with Quickbooks or another full-service accounting program for more flexibility.

Seems a bit high but was having trouble find data myself

It would be a good data point when you come back here in 5 years and tell us how your out of state portfolio is performing. 

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

If we take the previous thought experiment and we add "the 1% cap rate property will appreciate at a rate of 20% / year" with market data to back that up (or reason to believe that it will continue to happen) due to, say, average rent growth (no speculating on property values going up at this time), while the 4% cap rate property will only appreciate at 2%/year (tracking inflation), well, we have a very different picture of which property will be more profitable over the long term.

(not including mortgage principal and interest) Lacking hard data to the contrary, I would never estimate lower than that. 

Hey BP,Besides the MLS from an agent, does anyone know where to find data on the Average Days on Market for properties in a specific zip code?

I purchased a list but the data was terrible.

Prior to that publishing that sort of data could be a breach of privacy onto the borrower by the lender.  

Use data to support the story not isolated human interest stories.