Ex. to whom it may concern, we moved to be closer to family, and I changed my employer

Few years back during my divorce, my ex- husband and I agreed that I would refinance (refi) the condo just under my name in order to remove his name from the title.

Are you saving for Cap Ex items down the road?

So if an offer of $30k would get me my desired cashflow of $250 after all expenses (including saving for cap ex property management and maintenance) then I would start with an offer somewhere below that 30k mark and if the seller comes in higher you move on. 

Will you have big cap-ex EVERY year?

Maybe re-evaluate your cap ex expenses. 3.

Maybe my expenses and reserves are too conservative, but I think they're reasonable:PM: 10% - actualVacancy: 8% - estimate; 1 month/year and includes annual lease-up for tenant renewal (just a few hundred dollars, so less than 8%)Repairs: 5% - estimateCap-Ex: 5% - estimateGross rent is $885/month for this 3/2 rental. 

have a solid idea of your market ie rents, types of tenants, property taxes, sewage and water rates, insurance rates, cap ex and maintenance expenses, good parts of town vs bad parts of town.

The last thing you want to have to deal with is spending money to improve the overall value of the property, and then minor aesthetics and details are missed, which add up; ex. painted over light switch plate covers, or stairwell railings which have been painted over several times and never correctly sanded down, etc - gives it a look like it hasn't been done correctly and can decrease the value of the place.

ex: Anytime a court is referenced, 99% of the time the correct answer is Common Pleas Court.