Laying it back would eat all of the cash flow for 5 years, but I don’t need the cash flow at the moment.  

Unless it turns out he did mean San Francisco and I have to eat crow.)That being said.

I really don't want to be the only one that eats these expenses.Thanks in advance for your help.Viola

When you get your $140,000 loan you will be paying substantial costs and while you are working on the property you will be paying insurance, property taxes, utilities and I will bet the cost for heating while you are working during the winter will eat up a lot of cash.

Properties typically eat up more cash than initial assumptions.  

Without living out there full time, it's hard to maintain as nature wants the land to go back to forest and the wildlife eat everything we plant. 

You’ll want to be aware that if they vacate you’ll have to turnover the unit + eat vacancy while that’s going on.

Paying a PM for a single property in another state or city (more than one hour away from you personal residence) won't make financial sense and will eat up cash flow, and many PM's have to be watched over carefully to ensure they're doing their jobs. 

Worst case eat the tax.

When evaluating finishings or additions to a property you are looking to rent what are some ways you determine what is going to provide the best return and what is just going to eat into your investment?