You might want to double check your sheet to make sure it was counted as an expense.Total income is $56,760 + $1,200 = $57,960.Annual projected NOI = $5,581 or $465/mo.You are putting $68,000 down and let's assume another 3% in closing costs of $10,200 for a total cash in of $78,200.That makes it a 7.14% Cash on Cash Return.If you want a 12% COC you will only want to put $46,508 in.  

. $18,000+ annually to be exact.

.- future assumptions: 2% annual income growth, 5% PV growth, 2% expenses growth, 6% sale expensesBigger pockets tool sheet with above data:Cash flow: $916/monthCash on Cash ROI: 6.65%-7.57% depending on rehab costsPurchase cap rate: 7.15%I know this does not meet the 2% or 50% rule but it seems like a good investment for the area.  

Like Teresa said, the ground can always be redeemed pursuant to statute with the buyout figure based upon date of the lease and annual rent.

In regards to the terms, I received a 30 year fixed mortgage with a 4.4% interest rate, at the time I got approved I was at solid 690- 700 credit score but my credit has grown since then.The home warranty is about $960-$1,100 annually which averages to about $83-$85 monthly, and covers just about everything in BOTH UNITS, the sweet part is my realtor fought for it to be paid at the closing by the seller, so I ended up getting the first year essentially for free.

From what I can read in the tax code it seems possible with the homestead exemption here:This annual exemption is available for “residential property that is occupied by its owner or owners as his or their principal dwelling place, or that is a leasehold interest on which a single family residence is situated, which is occupied as a residence by a person who has an ownership interest therein, legal or equitable or as a lessee, and on which the person is liable for the payment of property taxes

Can anyone tell me how much it is to keep a realtor license active annually in Washington state? 

Annual property tax (IMI)?

My minimum criteria is $100 per month cash flow, and a cash on cash return of 10% annually.  

The annual tax savings would make a full 1+% cap rate difference.Do you guys typically factor in depreciation tax savings when running the numbers on a large complex?