Need Help with my first deal Analysis

[Kevin Pruitt]

HELP! I am in the negotiation process of my first SFH Rental deal and need a little help/guidance from the BP community. Below are all my numbers and I just want to make sure it is the right deal. The house is in a "B-C" Area but has many upgrades and other features houses in the area do not. I went on the cautious side and put $5,000 for repairs but think that may be a little high. Zillow/Trulia value the house over $70k but I understand that does not mean that I will be able to get that if I were to sell. Thank you for all your help!

[Dan Bryskin]

You don't want a best house in the bad area. You want a worst house in the really good area. You want your buy to be undervalued.  Taxes seem to be high, at least compared to MN. I Minneapolis I am paying 1100 in taxes on 70k property. Are where special tax assessments? Will seller pay them? I would not pay for garbage.  5k in repairs will replace a door or two, paint & carpet. In the other words seems like house is turn key or very close. That's great, but consider getting a home inspection and / or bring an experienced general contractor or two to look at the property, you don't want to be surprised by discovering place needs a roof and it will cost $10k. All in all doesn't look bad. Thank you, Dan