Your financing should be based on your goals as well as your cashflow (after paying the mortgages, repairs, vacancies, etc.)

Built and installed the cabinets, trim work, sanding the stairs, drywall repair/patches, demo, pressure washing, installing new doors, fixtures, etc..

How are you going to have so much appreciation from repairing a water line, replacing one or two appliances and repainting one room?

(I do not live in Orlando, my retired father does)... and my father takes care of all the maintenance (repairs, hiring contractors for electrical, HVAC, roofing, etc.) as well as showing the property for leases, he is my hands and eyes there... all for free, I do not pay him a salary or any compensation, and he does not want one. 

5) What repairs have been done?

You respond to reasonable repair requests in a timely manner and carry out your responsibilities with regards to maintenance and rules of tenancy.

The sky is really the limit in there.Also I just throw an idea, if you open big business, lets say car repair facility in Kona, you only have few competitors.

Thinking about offering slightly over the list price and saying that I wouldn't ask for any repairs.

Washer and dryer: Possibly the most repair prone of all appliances.

However, the other benefits of owning real estate are: - Taxes (depreciation/potential accelerated depreciation)- Appreciation (this is NOT always guaranteed, but over time, you will have appreciation)- Building equity (in this scenario, as long as rent is paid, you'll build about $140 monthly in equity)Please note some expenses that are missing from this are: - Management fees (8-10% on average, if applicable)- Estimated vacancy costs (2-3%)- Estimated repairs (5%)Disclaimer: I am a real estate investor and own four rental properties.