Originally posted by @Bill F.

You have Repairs listed at 20% so if you are essentially saying vacancy and repairs are 10% each that is fine.If you're getting $1,300/mo on a place you're paying $50,000 for that is good......UNLESS it's in a D or F Neighborhood, in which case the cashflow can look great, but in reality be horrible because of constant tenant turnover and unreliable tenant activities. 

The best thing you can do is submit your actual, 100% best and final offer with your best and final set of contingencys.I was in the central CT market a year and a half ago and a lot of houses asked for B&F and went over asking.

@Garry F. what you said it’s incorrect.

If you were taking about refi-ing for $80K+, it might be worthwhile, but not for that little cash out.

Carl Fischer and Larry F.- The reason I am purchasing a rental is to generate more income during my late retirement years.

I sold one two weeks ago  20 F st for 500k cash. 

~Daniel F.

"Too many" loans can be a thing in this way: most banks sell their loans to Fannie/Freddie and F/F only allows a person to have 10 (don't quote me on the exact number) mortgages.

As experienced self-directed investor @Larry F. gave you some good tips, and it seems that you did a good job educating yourself.As a real estate agent and notary you are considered to be self-employed, therefor qualify for truly self-directed Solo 401k plan.