In any transaction the key is to accurately factor in ALL of your costs so you know you will make money on the transaction.

Online sites will never be as accurate as a human who can take all the little things into account.

You can try out rentometer:http://www.rentometer.com/Not sure how accurate or useful it is, but it's fun to play with (apparently I'm offering a "good deal.")If you're thinking Section 8 at all, you can look at their "Fair Market Rent" page:http://www.huduser.org/datasets/fmr.html

In theory, it is supposed to be an accurate estimate of the current value, but in my neck of the woods it is normally not accurate (at least 10% off if not more)

You can usually get one online from your state's real estate commission or also from a title company.Recent comparative sales from a realtor will ALWAYS be the MOST accurate way of determining value.

But anyone who thinks that appreciation is going to bail them out of a low or negative cashflow situation is gambling, pure and simple.

If your comps and repairs are accurate, I would say that its a good deal.

In my own limited contractor experience, I always figured my time and materials as accurately as possible and then factored a 10% profit margin on top of that.I would think that any software would have to somehow be locally calibrated, because material and labor cost can vary dramatically from region to region.

With a $650 mortgage (which I'm not sure that's accurate with a 52K note) then most of the extra $200 you were factoring as cash flow will get eaten up in maintenance and vacancy.

And, as always, when it comes to creative real estate, attorney Bill Bronchick is a good place to get accurate info.