It's not simple, sorry.If you have not closed, consider tax mitigation strategies such as a 1031 exchange.

@Chris Hains  all in price , vs what you are expecting to sell it for , KEEP IT SIMPLE.

I was a student they offered to sponsor a deal for and it has cost me everything, literally. 

It usually means there are problems to be solved for the seller which will translate to opportunities for you.Keep it simple on your first 2 deals to minimize your risk.All the best.

Gotta work on that reading comprehension, Drew.The second and third sentences of my post are literally:"I lived in Detroit for 5 years before moving out of state, and during that time, I built a strong network of contractors, handymen, and other boots-on-the-ground contacts.

Clearly there is a sizeable amount of people consuming content about this stuff.Furthermore, there are literally millions of entry level rental properties in the Midwest.

Further, running a very quick and simple valuation based on $900 rents, 8% vacancy, 25% op exp margin, and a 9% cap rate, I'm coming up with an ARV of around $83k, so I'd pass if I were you unless you can get a much lower purchase price.

Infill is simple, but not easy.

We've struggled with Quickbooks for the last several years (and before that I literally had a shoe box with receipts in it).

You'll find much greater difference in $$$$$ by refining your location/rehab/vacancy strategies instead of worrying about "how much it costs to borrow money" in this environment.Nearly all of my clients are more concerned with a simple and headache-free funding process, than the "lowest rate."