She has little income, so I would essentially be paying the entire mortgage, insurance, taxes, etc... while she helps with utilities.

If i am not mistaking, Landlord is responsible to provide drinking water, functional plumbing, cooking Stove, and heating.

We have to carry a Full-coverage Indemnity Bond and Insurance here in WV.

They just want the plumbing to work. 

The seller bottom line is 400k. 425k.The NOI on this property I calculated it to be about 25k after factoring all expenses (like taxes - 9250, insurance - 2200, water - 2000, a 5 percent vacancy factor and a 6 percent maintenance factor.

It was completely rehabbed inside out (plumbing, electrical, floors, bathrooms, kitchen everything) in 2010.

I currently own 9.5 rental properties worth a total of about 800 to 850 thousand that rent for about 8000 gross and if all goes well with no repairs and vacancies or insurance I pocket 6250 after expenses.

I never had any issues getting the high ratio insured clients funds when the stresss test was introduced a yr ago.

Then there is of course vehicle maintenance, errors and omissions liability insurance, etc. 

do the transaction thru a title and escrow company to have a fully insured title.