When we review what is RICO charges.... 

If they have the time to make sure their reviews are good, they are going to charge you more than you need to pay because it's a big company.

Make the place nicer or lower the price to get bargain shoppers. 

I would definitely factor in some substantial capex/ maintenance and repair costs which could lower your returns.  

We looked at a couple different options as far as % downpayment and I figured I would refinance in the near future to help the payment get down lower.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

-the attorneys quoting you $3k are NOT eviction attorneys and are basically charging you as they learn.Move forward with the eviction unless the tenant improves their attitude.

Quote from @Brandon Larson: Yea, @Nathan Gesner is that legal to enroll someone in an insurance policy and then charge them for it?

aim for a good house, not a cheap house as it will attract lower quality tenants and cost you more in the long run.

So the lower the interest rate on the subject to loan, and the higher the prevailing rate, the more chance that a lender will initiate action.