You can get quotes on almost all recurring expenses (tax, insurance, water, garbage...etc).Best of luck!

Capex is a recurring cost, new rehab or not.

Keep in mind that a proforma (that you created above) is meant to act as an income statement and showe recurring expenses not Capex type expenses (so closing fees, new appliances, etc wouldn'tbe included) What your going to want to do is make 2 different sheets. 1 call sources and uses (or S&U) where you essentially outline where the money is coming from and what it will be used for.

Basically, the name of the game is finding property owners willing to let you lease their asset for them and if you do a good job and maintain the quality of your work you basically can create recurring revenue into perpitutity.

The SDIRA has already been opened and lightly funded (recurring scheduled deposits).Thanks,Tim

Yea I may miss a couple opportunities but I'll have to just add the recurring misses to my arsenal.

A simple day trip will answer a great deal of your questions and anxieties. 

I remember reading a strange but power tip once for people who have a little anxiety about talking on the phone to (potential employers, clients, opposite sex, etc.).

At this time my brother and I are interested in taking over the shop and buying my uncle out, and my father has always wanted us to do so and is willing to support this since he sees the value in keeping the land and keeping the business going for recurring income. 

Gross income = $11,466 (assuming 9% vacancy loss) annualEst initial Expenses: $15K totalProperty requires the following est 'rent ready' improvements: New carpet in 1 room, new back doorwall, main floor bathroom updates, new fixtures, paint, etc..No central AC; I calculate based on comps I could get $100/mo. more with AC.. est $3-5KAdditional initial expense risks: Water seems to be leaking through cinder block foundation in 1 spot... no idea how much this would cost to repair/mitigate.Furnace looks very old; city winterization report shows it was functional, however no clue how much life is left...Recurring expenses:Taxes/Insurance- $4,450 annual // $379/monthVariable cost PM (10%), with 9% vacancy loss-  $96/moI assume $500 annual expense/repairs plus $100/mo in reservesI assume $300 annual advertising/admin expensesTotal annual recurring expenses = $6,592NOI = $4,874In order to net $200/mo cashflow with PM (my own arbitrary target for my market) and yield >9% cash ROI, I need to purchase this property for $45K, assuming a 30yr, 20% down mortgage.This property would yield (with PM): $215/mo cashflow, 9.75% Cash ROI, 11.79% Total ROIThis property would yield (without PM): $310/mo cashflow, 14% Cash ROI, 16% Total ROIFinal rent/price ratio would be 2.3%thoughts ?