To me I'm not seeing this as clearly as those who are deep into the BRRRR philosophy.ELI5Also, the rehab part gets old after a while...rehab and maintenance never ends.

Since it's mortgage-free, the rental income would be mostly profit (after expenses such as property taxes, insurance, maintenance, etc.).

Note the property tax will be -10% on the rent by itself.Month 0 to 24: $2450 * 0.5 - $1573 =-$348/monthMonth 24 to 60: $2450 * 0.5 - $1541 =-$316/monthNext issue is due to the low leverage starting at month 24, the ROI takes a beating.  

Basically zero maintenance.

I own a 200 year old house that has a very low cost of repairs and maintenance over the 4 years I've owned it.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Not just the safety point but the maintenance level it is way too much work.

I was able to figure out that they had come upon some hard times and were significantly low on cash.

If you can rent it for $2,000/month, after fees, taxes, and potential maintenance costs, you’d still make a decent passive income.

Though at 1525/mth it is projected to cashflow a little less than 100/mth  -- the numbers do not include what I like to call reality numbers (vacancy loss, maintenance, capex reserves).