Possible Deal

[Ron Cornwell]

Let me know if this is not enough information, I copied what i had seen on another post.  I am converting an owner occupied 3/1 to a rental.  I expect it to take 2 months to get my initial tenant.  I have a signed contract, but left a 'subject to inspection' in it as an out, if i change my mind in the next 2 weeks.

Property: 3 Bed/1 Bath, Built in 1880, ~1400 SQFt, Zip 52060

Expected Rent: 650

Estimated Maint: 50

Estimated Vacancy (Year 1): 112.5

Estimated Vacancy (Year 1+): 19.5

Taxes: 109.5

Insurance: 56.5

Financing:

Sale Price 55,000

Conventional 30yr, 4.5%, no points, 15% down