• rent: $2800/m.

• mortgage: $1500/m.

• hoa: $190/m

• property tax: $420/m

• rental home insurance: $100/m

Difference: $590/m, or $7000 per year, before tax.

Now let's add incidental: we just replace the dish washer ($400). There's stuff like chimney cleaning, gutter cleaning, etc. We also had the previous tenant move out, and repainted the whole house. This cost us 1 1/2 months in rent. Deduct that from the $7000.

There are a few tax benefits: the interest part of the mortgage and the 1/29.5 per year of the land improvement purchase price.

The reason we bought this property is because we believed we were at a low point of the real estate market so we'd get a lot of appreciation (we did) and because this house will eventually allow our daughter to live in the area, after she graduates from college.

But, no, we're not making bank at all.