I will be paying taxes and maintaining property upkeep. 

Some books I would recommend are here (including, but not limited to):"From Pieces to Weight" by Curtis Jackson A.K.A. 50 Cent.I have read numerous books on investing, money, asset protection, stocks, and business and I must say, this is a great read for the business-minded person. 50 is a great business man and it showed early on in his life.....and it obviously shows now.

Be prepared on either end to be fair, up front and get ready to walk whenr some jerk sticks his 2 cents into your deal and throws his weight around.I find the agent of the seller is the ugliest during negotiations on low ball offers.

Those things are all over the place and don't seem to correlate at all with actual value.Also, I would heavily weight any calculation I did with the remaining data to strongly favor the comps you get from the real estate agent.

A good one can be worth their weight in gold, and a bad one makes every bump in the road a huge hassle.

They don't have to know the price, but all they will think is, "wow, what a gorgeous place and we don't have to do the upkeep?!!?"

ARE YOU KIDDING ME....It's the best thing since sliced bread, that course carries more weight than MR T carries around his neck, and if I study that course even one more time I'm afraid I'll turn into the next Donald.And if you don't have that course and are not listening to it each day too and from work, then here's what you should do.

Also, if the buyer has a buyer's agent who does their job properly, they'll be notified of what the seller and their agent are trying to do.But on the whole, I think the good points out weight the bad and I think I may try this on a seller's listing.

To be fair, I should deduct 5% for vacancy AND 5% for future renovation/maintenance/upkeep – bringing the income to $8,575/mo.

scottthanks for the input. the 70% ltv is interesting. i'm doing one right now where the interest rate will jump 3/8 to 1/2% from 75 to 80 ltv. at $64,000 it is not a significant amount, but definitely something to keep in mind.i'm paying cash and after rehab will refi(1-2 months most). not sure how much weight that will have on refi.i even thought of offering a private investor all proceeds over 80% when buyer sells or refi's. that way i get my cash profit up fron and monthly pmts with the wrap.still a work in progress for exit strategy.jim