Maybe I'll crunch some numbers and see what it'd roughly cost with city water, and factor in pump wear/electricity/ecological considerations.  

I have been crunching numbers on a lot of properties and so-called-deals and not sure if I am missing something, or just not seeing it.Purchase Price - 100,000Loan Amount - 80,000 (@5%, 30-yr fixed conventional)Rents for - 1250 per monthHere are the monthly expenses as I see it:Mortgage - 430Insurance - 33Taxes - 110Condo Fee - 250PM - 125 (10%)CapEx - 62.50 (5%)Vacancy - 100 (8%)Repairs - 62.50 (5%)------------------------------Total Expenses - 1173 per monthCashflow - $77 (approx)CoC returns - 4.6%People I talk to - realtors, sellers, lenders - they call these a great cashflow property, and I don't see how.Am I off somewhere? 

HOWEVER...there are many other factors to consider so I still have to investigate further and crunch the numbers to ensure it will work.

When crunching the numbers is it important to also factor in repairs/maintenance and vacancy in your evaluation?

I'm under market now, but the house is not rent ready and the tenant is ok with that given the current rent.I'll do some more research and try to crunch the numbers so I can make an informed decision.

A forensic engineered cost segregation study is performed by a qualified construction engineer with a site survey followed by 4-6 weeks of number crunching and preparation of documentation. 

I'm not sure what your existing loan terms are, but in crunching general numbers based on what you owe, you should get close to break even on the property if you rented it?

I've always done single family homes before.The numbers look good to me, but the margins are slim- then I look at maintenance since there's 6 properties with 6 roofs, and I question myself.I crunched all the numbers, and if I take purchase price + points + rehab costs I get $835k.  

Having a tough time finding the right one, but be patient and continue to crunch numbers, etc.  

@Paulo AscurraI use CMHC harmonized expenses which are used when lenders crunch their numbers as well:-2% Vacancy-5% Management-470-500$ / Unit maintenance (yearly)-290$ Unit Janitorial (yearly)-Use actual tax numbers.