Back to the same routine.

I live in it, but also rent it out to some friends.Purchase Price: $105,000 Renovations: $15,000 (not sure if this is included)Gross Yearly Rental Income: $16,200Property Taxes: $2,200 per yearHome Owners Insurance: $330HOA: $190Other operating costs (eg. routine rerpairs): $400Vacancy rate: not sure what number to use here??

You've missed a BUNCH of expenses including vacancy, capital (you'll eventually need a new roof, for example), routine maintenance and property management, just to name a few.

We routinely have occupants in the houses when we purchase from the auctions.

Worth more than we paid, plus upgrade, plus interest, taxes, insurance and routine maintenance?

The second reason is that I have been slacking off a bit lately, and I felt I needed to change my routine to get myself back on track.

I also routinely use craigslist.

If you have a property listed for $400,000 and the offer is $300,000 it will raise an eyebrow somewhere.

They are changing my contract without anyones permission.I have read about this issue and found that this is routine across the country.

That might cover routine maintenance, but it won't cover a roof, a furnace and two hot water heaters you'll buy over that period.