The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

Investing in real estate in actually starting, managing, and marketing a company. 

Maintenance is one of the biggest challenges, maybe even #1, in the Property Management industry.Seems maintenance is, Never Fast Enough for Tenants, or Cheap Enough for Owners!

Hey Rebecca, I'm a broker and investor up in Sacramento and manage about 100 investment properties (STR and LTR).Many of my clients are high W2 earners seeking "bonus depreciation" to offset tax liability by investing in STR.

-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate? 

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.

Broker, investor, and property manager here.

Because you live on the property, management will be easier.

As an owner of single family rentals, it's on me to adequately vett out and keep on top of the performance of my property managers.

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.