Get a good team in place, have faith in yourself and everything will work out!  

There's a cost converting to, and another cost converting from.I would suggest that if there's a large enough capital expense to set it up, but it doesn't quite work out the way you hoped, just keep it anyway and eat the costs.

@Greg CallanWould not do it.If it's your first deal, there are probably a lot of other variables that's missing and your ability to comp is probably going to be way too optimistic.If you knew the market and have done a few deals there and know that you'd get some sort of appreciation or that $850 comp would actually work out or that you can somehow get it to $1050...then it might be OK.But I'd underwrite it at $750 and 60-70% expenses.A 900 - 2149 - 268 would be a more conservative estimate.Depends on your risk profile and how confident you're gonna be able to be right on the dot with your first go at underwriting a deal.

You could also spend a certain number of days a year in Atlanta to keep your residency there and just work out of state, or maybe working remotely would be a good option for you if that is feasible for your current job in California.

I feel like when I work up the numbers, they rarely work out and I'm afraid I may be missing something.

A real gem.I now want to work on my passive income so I can leave my soul sucking factory job to persue other business ventures.I’m in a good position to have this work out well either way I choose to proceed but I’m looking for some advice from those of you who have been in the game for a while.

But I’ve always let the accountants work out those figures until I started investing in real estate 10 years ago.  

Hello all, I am a Multifamily Broker in New Mexico and work out of Albuquerque.

Youll start rehab and work out the details of the escrow and getting the 30k out.

If you took out a 20 yr mortgage on 145,000 and paid 900 a month, that would work out to be 4.3% I think most people would agree is a great rate to get money at.