We're incorporating the prop taxes & POS costs into our overall calculations.

It will be a 5/1 ARM though.If you want to lock in a 30 yr, but with a little higher costs, I've used LimaOne and Visio in this area. 

No.

I think I've picked up some decent information and tips here and there, but it would be nice to have a more efficient way of going about this that doesn't cost an arm and a leg.

Things that would be helpful to know: how much are your holding costs? 

Both tenants just moved out.I just got a bid to correct the foundation the right way by the most reputable company I could find (full underpinning, 60+ piers) ~$65k, plus costs of repairing drywall, paint, vacancy, and new flooring.

(technically no closet but for a few hundred dollars I can solve that problem.) 

Renting to Section 8 Long-Term TenantPurchase Price = $237,000Renovation Cost =$8,950Appraised Value = $310,000Monthly Rental To Section 8 Tenant = $3,215Monthly Mortgage Payment = $1,890Monthly Reserve for Maintenance and CapEx = $200Monthly Cash-flow = $1,125Another investment property was closed and added to my rental portfolio.

A deal that’s “close” but not quite right can still cost you big.

And hopefullt you won't need a traffic light, which costs in excess of $100,000, though you will be required to do a traffic study.