Does using higher expense assumptions depress the yield assumption to the point where no one will buy?

The area is fairly depressed.

I was broke, homeless and out a job and going through some heavy depression when she approached me to join her on the venture.

Yeah the situation is one corner of the back of the property has a depression on the cement where it meets the house and as a result this corner falls 4 inches below the base flood elevation, requiring Flood insurance to the tune of about 2,500 a year.

With only 1 rental you won't get management for 10%, it'll likely be 12 - 14% depending on turnover (they'll charge you 1/2 to 1 months rent to fill a vacancy).Florida is a very depressed housing market.

I'm very disillusioned and depressed.

How about the depression of rents?

Use that money to reduce your basis in duplex or to put into more property.Requires patience, but if you can pick up lots on the cheap in this depressed land market, with rentals that generate cash flow, it will be a great long term play.Leonard

I have 5 properties (4rent and res) in this area already 2. the houses are very cheap (10-40k), I dont need huge down payments. 3. the area is neglected and depressed, but by no means a war zone.

I have also known lots of condo projects to not have had a special assessment in over 20 yrs.Condos prices are also more depressed in price right now than SFR's or units b/c of the financing issues associated with them.