Since the FairTax taxes all consumption without exception (except previously taxed goods and services), the FairTax imposes a 23 percent (tax-inclusive rate) tax on the purchase price of new homes."

The problem is, the system is not all inclusive and there will always be other new systems and gadgets he will try to sell you after you thought you had it all...I should have known better, almost fell for all the hype.

While getting some cash yield would be great, my main objective is for the property to at least be carry neutral (inclusive of property management fees, given I'm out of state).

Not sure if you mean expenses when you say expenditures, but most investors will tell you to use somewhere between 40-60% for expenses, inclusive of taxes, insurance, management fees and vacancy. 

Ask the owner how they market and if you hear "word of mouth", the "phone book" or "sign in window", game on.100% occupancy - Shows they may not be trying to maximize the rent and prefer to stay below market for ease of management (or ignorance).Rent roll - Tenants on the rent roll for 3+ years with no rent increaseRent roll - Rents all set at $25 or $50 incrementsP&L - Shows $0 late feesManagement - Self managedVendors - Only use subcontractors (they don't use MF specialists for painting, flooring, equipment)Not all inclusive and not all are value add flags by themselves but some signs to look for.

The LOC allows repair cost inclusion in LTV calculation.

I don't but I would be wary.Here is an article that covers the basics. https://canalawrd.com/buying-property/buying-real-estate-in-...Competition would be fierce as the Punta Cana area is full of all inclusive resorts.

Hey @Chris Morey, thanks for sharing your situation.I'm not an expert on the Portland market but here in the Bay Area and Seattle, I have found full-service property management companies that charge as little as 3.5-5% all inclusive.

We paid $7,085 for 827 sq. ft. to a GC as follows:$650 - Carpet Removal$100 - Carpet Disposal$3,126.08 - 827 sq. ft. of Flooring at $3.78 (inclusive of tax)$1,800 - Labor: 40 hrs.

You should be able to define a lear and Inclusive Scope of Work.