Given you were looking at $1400 a month in rent I was assuming a 2 bedroom place. And outside of Milwaukee the taxes drop and things make much more sense (assuming you're in a condo you can move, condos in Milwaukee itself will always have better turnaround assuming they stop this spate of new developments at some point). As to the return, a 40% return over three years is a 11.9% annual return, nice but not exactly earth shattering.