I'd suggest using a minimum of 25% of gross rent to cover expenses on paper until proven otherwise on any given property.Only you can decide how much cash flow is acceptable but I wouldn't consider something that essentially breaks even.

In future if you are refinancing I would sometimes look to pay a higher purchse price but have seller concessions to bring the price down on paper but not for comp purposes. 

Decide how much money you would willingly flush down the toilet. 

It was cheaper to clear the line each year, but eventually I excavated because i got tired of getting emergency calls about toilet backup.

Fix your cabinet with the missing door, remove the stickers from the mirror and window, close the toilet lid, sweep and mop the floors, use a wide-angle lens, and take pictures from an appropriate angle. 

The PG is worth as much as the paper its written on.

Numbers always look good on paper but between holding costs when acquiring and renovating property, closing costs on can also add up.I am not saying it cannot be done, as I did it with about 75 loans in a very similar fashion (except I was buying NPL's and got them reperforming).

Because they found out the hard way that while Class C rentals look good on paper, they really don't perform as well as Class A or B, due to tenant nonperformance & damages.My point is, you are unlikely to find a shortcut around the challenges listed above. 

One can write a lot on a piece of paper and tenants will sign it - and then promptly forget about all of it and misplace their copy.

. $150 labor and $100 for a brand new toilet all day long.