I mean where does your initial monies go after making your first purchase and how does it get recycled and paid off. 

Your right about utilities--I believe the number they gave me includes trash, recycling, and water.

As you noted we have very high taxes and our rents are modest by comparison so you have tough numbers to overcome when you put those tax rates in.I was leaning to the BRRRR idea simply so I could "re-cycle" my starting capital.

Same with loud music at parties, parking on the street and a really big one is the garbage recycling.

Cleveland, like the rest of the Midwest has a ton of low cost real estate with high price to rent ratios but don't think it's the land of milk and honey or anything.

Looking at the over the stove vents, it was better for us to replace the whole unit for $80 than to clean them.Note:  Our apartment was lived in by druggies, so we had no lights left, they were recycled along with the plumbing pipes. 

It is pretty much worth what it is listed for.A little dated inside, but since it will just be a rental and not a flip I am not too concerned with this.No way to "recycle" my cash like I would do with a BRRRR deal.

That being said I actually ran your numbers through a proforma I use and here is the break down for that: Purchase price: 129,900Effective Gross Income: 22,086 (vacancy 10% of gross income; 2454)Expenses:Expenses%EGITaxes $ 4,618.00 20.9%Insurance $ 1,500.00 Heat $ - Electricity $ - Water / Sewer $ 1,200.00 Trash / Recycling $ 180.00 Lawn / Snow $ - Management $ 2,208.60 10%Repairs $ 1,104.30 5%Capital Expenditures $ 1,104.30 5%Supplies $ - Accounting / Legal $ - Miscellaneous $ - Total Expenses $ 11,915.20 54%NOI: 10,170.80Financing: Down Payment $ 32,475.00 25%Bank Loan Amount $ 97,425.00 75%Interest Rate5.50%Closing Cost $ 7,794.00 6%Loan Term (years)30Monthly Payment w/ ESCROWDebt Service / yr $ (6,638.02)Debt Service / mo $ (553.17) $ (1,063.00)As is your property you're looking to purchase is valued at 7.8% cap rate and will produce cash flow of $3500/ year.

At the expiration or termination of the Lease term, Tenant shall repair any damage to the Premises or its contents and shall leave the Premises and the contents in a clean and good ordered, undamaged condition with the kitchen and all appliances, bathroom fixtures and building equipment clean and in the same condition as on the first date of the Lease including without limitation all interior and exterior finishes of doors, walls, banisters, closets, cabinets, ceiling, railing, trim, stairs, appliances and equipment it being the intention of the parties that the Premises shall be returned to the Landlord in its original condition.Tenant shall also:Maintain the house and all appliances, such as refrigerator, stove, dryer, washer, alarm, heating and window air conditioning units, if any, and return in the same working order.Promptly notify Landlord of any repairs even if some are Tenant’s responsibility.Promptly remove all garbage and debris and place at the curb for collection in secure containers respecting all applicable recycling laws.Use all plumbing, heating, cooling, gas and electric and other facilities in a safe manner.Not flush wads of toilet paper, grease, oils, coffee grounds, fibrous materials, q-tips, sanitary napkins, tampons or condoms in the toilet or down any drains.

I’d never ask my $25/hr guy to haul off trash or recycling from a reno when I could hire a HS kid to do it at $10/hr