I wanted to share the financials after 3 years, and demonstrate what three years of real estate investing can achiev3 Bed/1 Ba Single Family Pro-Forma:Year 1 (2021)Income:Rent: $1,200.00Expenses:Mortgage: $509.95Taxes: $119.10Insurance: $43.84Cap Ex: $60Repairs/Maintenance: $60Vacancy: $60Monthly Cashflow:$347.11/mo or $4,165.32/yrYear 3 (2024)Income:Rent: $1,300.00Additional Pet Rent: $75Expenses:Mortgage: $509.95Taxes: $155.43Insurance: $53.03Cap Ex: $68.75Repairs/Maintenance: $68.75Vacancy: $58.75Monthly Cashflow:$450/mo or $5,400/yr (Total/Not 50/50 %)Total Equity: $37,473.88-Principal Equity: $7,959.62I have learned a lot about the systems needed in place to run a rental property, and how important picking the right tenant is. 

Car maintenance is a given, yet she chose not to put anything away for it. 

It's possible that the annual tax bill increased by $3,600.00/year, and there was a shortage of that amount when the bill was paid.

We have our family member (local realtor/investor) manage property but just for maintenance requests and urgent issues, so we manage rental payment on our own.

Do you have yard maintenance, capex, repair and maintenance ect worked in? 

Maintenance, the life cycle of commercial W/D, and the cost of converting from coin-op to debit card operated? 

I own the property assigned it to an llc and the halfway house foundation rents the house from my llc and I deal with all maintenance issues.

Use the "extra" income to build a reserve for maintenance, vacancies, and other expenses that don't happen regularly.

Do you want tenants to have access to a portal where they can make rent payments, submit maintenance requests, and view lease terms?

Seams aren't perfect but are not bad now, looks like it will end up being a regular maintenance task but at least I don't have to pull up the baseboards anymore!