If you refinance the rental property, does the rent cover the expenses? 

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

Sounds like such a cover up.

I'm not self promoting.

These are the first things I look at.Lastly if someone is advertising on BP, it’s not a bad or good thing - all it means when someone advertises on BP or pays BP to be promoted it just means they paid to be on the website.

(Be sure to factor in vacancy, PM fees, maintenance, etc in addition to PITI)•Do you have additional reserves to cover unexpected expenses like long than expected vacancies, high turnover costs, or major repairs (e.g., HVAC or roof replacements)?

My wife and I would remain renting in our current apartment and we could easily afford to cover the mortgage indefinitely if/when it would be vacant. 

With an FHA loan, you can finance a 2-4 unit property, live in one unit, and rent out the others to cover your mortgage.

If something pops up in the first two weeks, then I will cover it just in case we made a mistake and as an offer of good will.The stray cats are not your fault or responsibility.

@Paul Bogard Any real estate agent who promotes themselves as an agent who is a specialist on renting out bedrooms should be moved to the bottom of the list of people to take real estate advice from.....