(feel free to tell me If I am wrong.)Gross rent = $4,775 p/month x 12 = $57,300Vacancy rate of 10% brings it to $51,570Consider 45% to %55 for expenses and management brings my NOI to $23,205 - $28,365NOI/Cap Rate$23,205 / 8% = $290,000$28,365 / 8% = $354,500@ 70% LTV that gives me a range of $58-$100k to pull out if my math is correct.

Let me know if you'd like for me to get you set up on that.As for meetups, a few other local BP members (Tim Gordon) and I host a free event each month that meets at an active investment property and reviews the pertinent details of the deal and helps t explain numerous facets of REI.

Real estate is one of the last great free-market environments. everything is negotiable, and some providers are better than others, meaning they offer more complete/sophisticated service and response, wider marketing exposure, etc.I compete routinely against both higher than 5% and lower than 10% management rates and anywhere from one month's rent for a leasing fee, to half that. 

We have used various methods to save up for down-payment funds: we set aside pay raises instead of consuming them, re-enlistment bonus sums, tax-free income from deployments, an inheritance check, the tax-free savings account while deployed...And so forth.  

In reality any buyer is free to do that but I don't know how often that actually happens.

I would love to buy it in just one of our names, freeing up the other name for an additional house down the road. 

Prorate bill based on previous months, look to charge other 3 tenants (the party>free ride is over). 

@Allen Fletcher is right on in his assessment of the actual tax being dependent on past use (actually 500K tax free is the top exclusion if you're married and have lived in the property for 2 out of the last 5 years) and future strategy (depending on your path you could exempt all or part of the tax in a 1031 exchange).Your accountant paints the current picture better than anyone.

Head out to one, find an investor doing the type of investing that you also want to focus on, and offer to help them for free with whatever they may need (finding deals, marketing, painting their flip, organization, etc) in exchange for their mentorship throughout your first deal.

Big sports and movie/tv fan.