Pull comps, if you rent it for 1500.00 you are cashflowing 120.00 a month with all the info you gave me and including fees except if you take any fees on (water/trash etc.

Im not a lawyer, Id flip that house though. maybe get the priest to come throw some holy water on it. 

I describe that on my pod cast with bp # 222 I become a ghost at $10m cash mate (Not equity or assets) lolWon't pick up the phone anymore and laptop is going into the Mediterranean waters hehe 

Get with your agent and ask all the questions related to their experiences with flood claims and what you could expect. 

John Yes, that is precisely why I think it is overrated with respect to cashflow, it is very difficult to find a property that will leave you above water after doing the numbers.

And my rentals there are cash flowing nice, but it's taking some time to getting it occupied, and I also found out that I need to make sure that the tenant is paying for the water, because the water bills are really high over there.I will keep you all posted along my journey, and I hope I could help you friends.

I estimate high of what the bill would be and put it on their lease, I have not had any issues this way and if the water bill goes up, I will increase on the next lease. 

.- Good luck getting them to pay their portion for the duration of their lease- Be careful including utilities in the rent as they then won't care about a running toilet resulting in a $500 water bill.- S8 tenants don['t want to pay application fees- S8 tenants cry broke about paying security deposits- S8 tenants in the program for 10+ years claim ignoreance on filling out their paperwork because they've learned a desperate landlord will do it for them.If you want a S8 tenant, you MUST advertise on www.AffordableHousing.com

Fridge filter is like a lightbulb it is a consumable that they can get or not get, makes the water better or I suppose the fridge smell less but it is not essential.   

Its extremely important when running tighter margins like what you're talking about to focus on age of HVAC, water heater, appliances, roof, etc.