You have to do a lot more homework country by country and even between cities in the same country.  

That's some funky math bro.

If we assume $1285 in gross rent, or $5140 per month for the quad, the 8% PM fee would amount to $411 per month or $4930 per year after year 2.Now if we do some simple math:$18600- 6240 for miscalculated rent- 4457 for miscalculated HOA dues= $7903 in cash flow per year. 

I did my homework before making a decision.  

dont over think this its not that complicated. important issues are.1. cost of capital2. knowing what a deal is or is not.3. good reno crew or contractor  4. good agent that will tell you straight what its worth when done and what level you should rehab to.5. a market that is actually moving napkin math works  trying to drill down to decimal points does not.

Be sure you are comfortable with the math and know exactly how much you should be getting depending on how the property performs at different levels.  

Is anyone else willing to share the math-side property screening process?

If you haven't gotten an insurance quote yet, you should go do that now; those insurance costs have been skyrocketing for the last few years and are changing the math on many of my properties.Personally (and I mean this--it's personal to each of us), nothing about the deal you're describing excites me. 

I am doing my homework and research.

I'm not sophisticated as Dan, but if you simply do the straight math, it may be close to 10 years before you break even on $190k.