I recognize that the CoC return is not as high as we'd like, but it does come with some built in equity (~$100,000)Details:- 3/2 Single family house (1487 sq ft) with a 1/1 ADU out back- Zipcode 78745- Purchase price: $469,900- Down payment: $50,000 plus CC (includes assignment fee)- Seller Finance $419,900 at 3.5% interest; 30 year amortization with a 15 year balloon- PITI $2744.02- Rental comps: $2667 for the 3/2; $1505 for the 1/1 - LTR according to BP (Total $4172)- Repairs needed - minimal, coat of paint and maybe swapping a window unit A/C for a mini split

Every turnover will cost you money due to vacancy, Plus you run the risk of additional losses from unpaid rent, cleaning, and repairs.

My recommendation is to find a landlord attorney who is also very familiar with property management process and procedure.

Repairs are probably around 30k at least.

I did not rent, though, mainly so that I could build up more savings for down payment and any rehabs/repairs. 

Plus, they often have established connections with handymen and contractors, making maintenance and repairs seamless.

Tighten up your policies and procedures and stick to them.

- You may want to get a home inspector to tell you what needs to be addressed.How will you get any needed repairs done?

You might still be able to hold it long-term if you can refinance and get through the repairs

Consider both immediate repairs and ongoing upkeep.4.