Another we advised against a costly purchase by pointing out the monthly recurring costs and the stress that would put on his budget.

Since this will be a recurring payment, I will have to see if this hold occurs next month alsoI am still waiting to see when the funds will show up in my account but it looks like it won't happen until Mar 11

If you buy right, your normal recurring expenses would be covered by cash flow.

Long term rentals are KEY to building wealth in real estate, and if you don't have them then you have no recurring income every month.

The Break-Even Calculator enables you to determine the purchase price where the recurring costs equals the income.If the Break-Even Price is lower than the Actual Sold Price it is unlikely that properties in that city will generate a positive cash flow.

And yes there are apps that integrate to make your life easy. for eg Bill and Pay for recurring rent, email invoices, portal for tenants ACH or credit card payment.Here is what you can accomplish after you have written your instructions you should be able to pull up reports by owners, property, units, tenants, vendors, employees, hard and soft money loans, including constructions... and anything you enter and more. -- chart of accounts is just the starting point-- rent roll-- tenant - invoice, statement, payments, credits, recurring rent - advance-- security deposits -- work orders - completed, tenant's call, --lease expiration -- email's - has also a mini CRM build in--as to owners - summary and detail, reserve funds, -- Get reports for everything you enter... create pdf or export to excel .

Hoping to find some recurring meetings to attend weekly/monthly as well, but would gladly attend any one-time meetings too.Would be interested to attend meetings for flipping or buy-and-hold, as well as for multi-family or commercial properties. 

Also I would add NRRC (non recurring closing costs) to the down payment amount) to get a true amount of cash invested.  

In fact, in my current scenario, that is exactly what happened in 2014, and the lender agreed to not add that as a recurring expense, however, and I'm saying that as a small business owner with several businesses who employs various strategies to lower taxes and realized income, when it comes to real estate, it either makes money or it doesn't.

Current tenants have never had rent raised.Leases:Unit 3: One year; expires August 31, 2017Unit 4: (did not scan; at home; will send this evening; pretty sure 1 yr lease ending summer/fall 2017.)Unit 5: 6 month, expires June 30, 2017 (just renewed)Unit 6: 6 month; expires May 31, 2017All rented.Asking price $135K2016 (est) Repairs: $1,100Improvements: $1500Rental income: $18,000Annual recurring expensesWater $840Trash $912Snow/Lawn $750Property Tax $2,700Insurance $2,100Rent (@ 100% occupancy)Units 1 and 2: $12,360($515*12)*2Units 3 and 4: $12,600($525*12)*2Total rental income at 100%: $24,960Improvements to units 3 and 4Roof 4 yrs oldNew toiletsHot water heaters 4 yrs oldFoundation drain installed both units 3 yrs ago; warrantied for life; transferableNew rugs; walls paintedImprovements to units 2Foundation drain installed unit 3 summer 2016; warrantied for life; transferableNew carpets and paintImprovements to units 1 and 2New roof scheduled for mid-January.I would appreciate any thoughts.Bill