Our cash-on-cash return would be much less, but we'll still get principal paydown and everything besides the roof should allow us to raise rents (central air, updated appliances, open up the kitchen/livingroom wall, refinish wood floors).

We're in our 70s now and our biggest expenses are for a new Lexus every couple of years and first class air fare.

I'm still up in the air on that one.

@Bryan Clark I'd make sure all the systems and structure are in working order (i.e. roof, plumbing, hot water heater, heating, air conditioning, etc.).

It is a 2/1 near an air force base, in a decent school district.My question is this: how do I run the rental property analysis, how do I account for private money?

Forced air furnace or ac.

If the PCR report indicated any issues such as the plumbing not holding pressure, you will not be able to get the water turned on.

I'm excited and am feeling the pressure (hence my 5 year mark). 

@Ryan KurthI'm an HVAC contractor and I have a few, used, warm air furnaces that I keep around for emergency and/or construction use.

-Buyer wants earnest money back and realtor is pressuring me to sign for 51.