I am new to Real Estate Investing and have no properties. ( Except a Class A motorhome, which is totally for sale if someone is interested)A little background on me.

Please correct me if I am missing some line items here, but here are the working numbers for the property:+ Gross Rental Income: $150,000- Cleaning Fees: ($21,600)- Management Fees:  ($19,260)- Property Taxes: ($3,700)- Insurance: ($2,400)- Trash & Local Tax: ($650)- Utilities: ($7,200)- Pest Control ($560)- Supplies/Maintenance: ($1200)- Acct/Legal: ($1500)TOTAL EXPENSES = ($58,070)Net Operating Income = $91,930---Based on my limited understanding of the local CAP rates for similar properties in Philadelphia, PA 19106 it looks like 5-6% is a realistic number. 

Incorporate "The Millionaire Next Door" and "The Total Money Makeover" by David Ramsey into your reading program.

I can tell you from experience underwriting deals for a number of institutional and semi-pro investors that they have achieved IRRs greater than 15% and yields greater than 8% in markets like San Francisco, LA, NY, and DC that advertise 4% cap rates.Markets with low cap rates typically share the following characteristics:1) Strong rent growth, driven by2) Strong population growth, driven by3) Strong job growth4) Low vacancy5) High per bed rents (lower operating costs as a percentage of total rent)6) Good property management options7) Higher quality tenants (young professionals like myself will rent in SF until their late 30s to early 40s)To achieve returns in these markets, investors buy buildings with significant value-add or development opportunities on very low to no leverage (debt), and refinancing the deal after stabilization to cash out.

I believe there's $60K owed total, would have to double check that.

I use a totally random number that I memorized years ago and has nothing to do with my birthday, ssn, or any other combination that's related to me. 

In total there are about 150 line items on mine.

Then total the square feet (yes, I'm serious :)).

But, an LLC will not limit you from liability in total.

Value of the properties is 40k each (160k total) looking to pull out 110k.