Option 1
Rents 25,800
Expenses (50%) 12,900
Remaining 12,900
How much are you putting down, and how much is your mortgage?
Option 2
Rents 25,800
Taxes -2,355
Insurance -1,300
Prop Management -1500
Utilities 2,100
Remaining 18,545
Property management seems light. Assume 10% of rents. What about vacancy costs? What about maintenance? Assume 10% of rents. An old building may be 20% for a few years. Any common area heating or lighting? HOA dues?