I remember listening to one of the recent podcasts (can't remember which episode in particular) but the investor was invested in a more rural area and said rents can basically stay flat for years and years.

In our state we are allowed to charge a max of 2x rent for a deposit, so what if we systemized deposits to be a flat $1,500, or they can pay $75 per month for a warranty on damages (only damages) of up to $1,000.

Basically, a FLIP funded with income-producing RE passes on net income (rents) initially and then, at a point that you specify when you create the trust, the trust will 'flip' to paying you a flat rate of income based on the trust's total value.

Go fast on this one, all the ingredients appear to be there, just need to mix and bake, and deliver profits!

I'm not saying you should use the broker's proforma numbers (some of them are flat out delusional) but here is what I do:For expenses: I use MY numbers.

@Scott Berman I agree with @John Pierce about all of the positive changes happening in Northside as well as the caution on baking appreciation into the deal.

I have a first property (two flat), and then a second property (three flat) and then this one, which I would be moving into - which would be my third. 

Instead, I would recommend that you charge a flat monthly rate to each tenant to cover your average utility cost.

Whether it's a flat fee up-front like VRBO, or a percentage of bookings like AirBNB?  

I talked to about 6-7 banks before closing on a loan and the loan fees were anywhere from 7-10% of the loan amount for a home loan and the HELOCS were all a flat origination fee of under $100, with a yearly fee of $50-75 depending on the bank.