Lets see...take two years out of your life to satisfy some BS leftist law in California just so I can buy an artificially overpriced property?

They had a one page sheet to explain there profit lossEverything they told me at this point has not been verified.They take in $124,320yr.They pay 11821 school tax6500 village tax3000 town county tax5000 insurance 3770 for landlord electric and hot water for the whole building2500 for heat and electric for the rooms for rent 1700 for the cleaning of the shared space and bathrooms for the rented rooms (2 shared baths and hallways for rented rooms)375 snow plows500 general maintenance 320 lawn care4300 for village water and sewer. 

Let the tenant know - in advance - that everything has been documented so they are less likely to steal or hide damage.The lease should cover lawn care and that the tenant is responsible for repairing damage from their pet, to include dead grass from pet urine.Have an eviction attorney in mind and start the eviction process at the first available opportunity.Any specific questions I can help with?

I just want to make sure you are aware of that so it doesn't sneak up on you.Then you will want to have some sort of lawn care and general maintenance budget for tenant "uh-ohs" of about 5% of rent which is another $66.25/month.

.," I have in mind the kinds of things Jon is mentioning--turnover costs, cleaning fees after turnover, tax and legal help, lawn care.

Maybe he got a great deal from a friend's Dad who he cared for while he was sick or he cut some old lady's lawn for free when he was little and she paid him back by giving him a break on the house. 

Who is responsible for Lawn care and Snow removal?

So a few things that jumped out to me:-No cost for lawn/yard/snow. 

Keep your repair receipts to justify mark up on home.read this...Seller Seasoning:Seasoning <90> 90 days but < 12 months, a second appraisal may be required if the re-sale price is 5% or greater than the lowest sales price of the property within the past 12 months.Property flipping is a practice where recently acquired property is re-sold for a considerable profit with an artificially inflated value, and is ineligible for FHAAlso attatched is guidelines for FHA loans Hope this helps

Internationally US paper is known as liar's paper because of artificial inflation of credit ratings by the banking industry when they sold loans on the international market.