The question you need to ask

[Jazzman]

The question you need to ask is what do I want from it? Cash flow to break even and hope for appreciation? A rental checks to supplement my income.

Here’s some guestimates

Price Paid $150k
Rent $1,500 a month

Costs
Landlord Insurance $125
HOA’s $400
Property tax $125
(Mortgage) $600
Vacancy rate $125
Repairs $75
Miscellaneous $25
Total $1,475

Net cash $25
Cap rate 0.02%
ROI -/+6% (will depend on whether you think prices are going to go up this year or not. Jury is still out on that one).

Many assumptions built in here, but aim for a rent ratio of one ie for every $100k invested, you need $1,000 rent per month. Allow 50% of rental for costs (excluding mortgage), and you should break even …if you manage it yourself. For SFH you don’t have HOA’s, but you will have to budget for Capital costs.