Roderick Carabott The best property managers should have a team on staff that handle the normal recurring issues (clogged drains, painting, basic electrical repairs, etc) instead of outsourcing.

I do this so often that I created an online tool which enables me to instantly estimate a break-even price (where rent equals recurring expenses).

Then you don't have to include/worry about future acquisitions, and can hopefully keep recurring legal costs to a minimum.

The areas that you mentioned are good areas, but they are also 80-100 year old homes so maintenance can be a recurring issue.

Lenders are ok usually to have seller credit back for 'recurring and non-recurring closing costs' but only up to like 6%.

Do I factor in ALL expenses associated to the property such as my maintenance and turnover costs into it, or is it strictly the recurring monthly operating expenses such property tax, insurance, utilities, pest control, and lawn care?  

As I said, my overall goal is to own rentals to have recurring cash flow.  

I like to take on as much as I can then build out systems that help solve recurring problems.To me, it sounds like you've seen (or will see once the flips close) great success this year.

I'll be hiring a GC, getting an itemized contract, and after reading the thread on mistakes never paying before work is completed... that seems to be an important recurring theme/

I requested a lower payment for one servicer and set up a recurring auto-debit for another.