Then sign that new lease, and have both bf and ex-gf sign a lease termination ending the lease early.

@Joshua D. based on those numbers it looks like it can work. one concern: even with saving 10% for cap ex that will only be $1400 per year, which could get eaten up quickly if you need a new roof, plumbing, electric, etc. 

I have an ex-Home of mine (near Mesa College so close to one of the OPs) in my rentals.  

thanks for your service, I'm also ex army 31b and 88m. 

My somewhat unfortunate first deal was selling my house to my ex wife, I did make money on it but not as much as i would have liked to.  

I know i want to wholesale deals first so that i can get a different feel for it all cause the rehabing part i know i can do that hands down i mean remember ive been doing that for years right but should i get my llc ,web site, cread packets , business cards, phone number,ex.... first or just market to find homes for sale with out any type of credability or protection from the llc ?

I ran the deal with 7.5% down on the BP calc.FINANCIALSDown Payment: 21,750CC & Inspections: 5000Cash Needed: 26,750Monthly ExpensesP&I: 1453/moT:  208/moI: 115/moPMI: 175/moPM: 232 (I will attempt to self-manage for as long as possible)Vacancy @ 5%: 116/mo= $2299 monthly payment with PM, $2067 without PM in place.I figure cap-ex and maintenance will happen, and we don't know when.. as something could happen day 4 of owning the property.

PITI is 1,400 and you cash flow 600 (before repairs, cap ex, etc.) per month.

@Joseph Ziolkowski, yes, vacancy and cap ex are included, as well as maintenance, property management and property tax and insurance (but not Principal and Interest cost).Nobody can know for sure what its expenses will be in future, hence the ballpark "50% Rule", which can be fairly close in the case of middle-priced, middle-aged, middle-neighborhood type properties.

My ex-wife was awarded the house (with my VA mortgage at a rate so good it won't be refinanced in her name only) and that mortgage is good standing.