Look at insurance and tax costs, those two items are the biggest killer of cash flow.

With current interest rates, and they are at least 1% higher with potentially additional points for non owner occupied property, it is hard to find properties that will allow for positive cash flow after paying the mortgage, if you are looking for money for the down payment from a private lender, those are normally at higher than market and I am not sure it would be possible to pay it off.... please remember you need to take into account that you may not have a tenant for a certain amount of time, a tenant may stop paying rent, or you will have a big ticket item to fix, so I would wait if I were you and save to have enough for the down payment and closing costs and perhaps some money set aside for repairs. you also want to make sure that you have your own emergency fund outside of the money needed for the investment property because life happens ....

I would try to buy properties starting at a specific date so not large ticket items come up.

Additionally, they should help with coordinating your home inspection and if needed, getting GCs to walk and get you an itemized bid as well!

@Mary Jay yes and that’s counting even big ticket item repairs averaged out so my monthly is actually higher. 

But, there are certainly several items that would give me pause.  

But enough to make to do all the cosmetics along with a few major items like HVAC, appliances, etc.

An example of a mistake was a line item for alimony that I found on my taxes (I am single and have never been married).

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

I have one I have drafted up but would love to compare against others.What are some items you always included in your MTR rental agreements?