There are a few factors I have had to consider, such as: - living away from where I invest - maintaining a rental property away from where I live - the neighborhoods that I would be purchasing in are not the best -many other things I probably haven't even thought of yetDo many people live this far (about 12 hours) away from where they invest?

Now at your 120K you're up at about a 13% return and that I think is in keeping with what you should be looking for in the given area you described.I didn't account for the garage because I wasn't as sure of it's viability as an income stream, in my area homes that have garages rent with the garage, and the base rental rate is usually fairly close with and without the garage.

That didn't go over well, but her boyfriend is a bully and I didn't want to get bullied into an agreement that wasn't fair to us, hence why I hired prop management.

Depends on how the property was maintained and left.

What the fair price is for the lease can't really be established over time, so it is then viewed as to what is the fair market rent for that property?

I'm also in the Tri-Cities and also fairly new to BP myself.

That will determine whether a deal exists or not, as well as what is the FMV of the property, and FMR (fair market rent).

The advantage of this is it is their job day in and out to qualify borrowers and if they have a positive track record your money is fairly safe with them, compared to you trying to do it yourself and getting taken.

I'm fairly new to the business too and I'm learning as I go.

However, she is slightly mentally challenged (probably drug related from her past) and I'm fairly sure she isn't going to move.