Totally understand the struggle of gathering insurance quotes - BP makes it easy for you! 

If the numbers and neighborhood work for me, the age and condition of the property are totally irrelevant. 

Principal Paydown: $2,441 Total Gain: $58,317 ROI: 360.32% (on $16,185 upfront investment: 3.5% down payment of $8,715 + 3% closing costs of $7,470).Year 2 Analysis Cash Flow: -$752 Home Appreciation: $6,120 Principal Paydown: $2,617 Total Gain: $7,985 ROI: 49.34%.Year 3 Analysis Cash Flow: -$375 Home Appreciation: $6,242 Principal Paydown: $2,806 Total Gain: $8,674 ROI: 53.59%.Year 4 Analysis Cash Flow: $9 Home Appreciation: $6,367 Principal Paydown: $3,009 Total Gain: $9,386 ROI: 57.99%.Based on these numbers, you’d have negative cash flow for the first three years and only break even in Year 4, assuming a 2.5% annual rent increase.Adjusted Scenario see second picture: Landlord Covers Gas and WaterIn the second scenario, I assumed the landlord would pay for gas and water at $300/month while maintaining the same 2% home appreciation rate.

The best contractors don’t just throw their hands up when issues arise; they come up with solutions and keep the project moving forward.5.

Check out Brian's book The Hands-off Investor on sale THIS WEEKEND for Black Friday.

I’m working with local investors who are snapping up everything they can get their hands on, and honestly, I can’t blame them.

With a good template, it can handle cash flow tracking, though it’s a bit more hands-on.I hope this helps!

We've been reading everything we can get our hands on, listening to podcasts, and spending time every morning reading and learning from the forums here at BP. 

I actually had come across your post below in the Events forum and thought to myself it would have been nice to attend that to see first hand a local flip and talk shop about the process.https://www.biggerpockets.com/forums/521/topics/1215682-chec...I am happy to hear that someone with your experience in the region feels that Westchester is a market with some potential.

I do have some investment experience and I'm currently managing 1 property, all the numbers are great and there's a good amount of cash flow and long term growth so I'm not a total green horn.