I bought it for $35,000, put $21,000 into it, put it on a 4 year lease at $825/month.With my monthly proforma budget, I calculate cash flow to be  $174/month.With my actuals, considering I have not had a repair expense in 14 months, it is just insurance, taxes and debt service for a cashflow somewhere over $400.Add in the fact that the tenants routinely pay late, generating an additional $35/month in late fee revenue.That's what I was referring to in terms of actuals vs proforma.  

Dealing with late payments, "overlocking" units, and auctioning them off is a routine part of the manager's business.

. - I just didn't enjoy living life in a daily routine under the paralyzing shade that the comfort zone casts.

I am right now thinking about owner-occupant however I have children and their routine and comfortability may be greatly compromised.

People come in asking about rentals routinely, I had no vacancy when one tenant moved out and I think they routinely turn people away that are checking on condos for rent.

I don't intend on flipping until we are able to get in a routine handling that so I do have plenty of time to do my research.

There are a few REIAs in UT that have routine lunches a few times a month, plus Jeff's BP meeting.

I'm a new real estate investor in Glendale, AZ looking to get educated in selecting the right properties and develop a routined process for turning properties.  

Here's why:- Does NOT charge me an upfront set up fee- Associate Broker for Keller Williams- Charges for routine maintenance and minor repairs can be taken from rent so I don't have to pay money upfront- The guy in charge of their maintenance and repair crew is a former building has over 23 years of experience in construction, home inspection and building maintenance.- They are easy to get a hold of.- They are very professional, contact me every week to keep me informed on progress of my most challenging rentals. - They are very knowledgeable and help steer me clear of "questionable" areas for future investments.- They've also helped out a few BP'rs with their properties and I've gotten good feedback which of course, is a big deal to me.I'd like to point out that although Detroit has the same challenges that any large city would have, the biggest issue is locating a legitimate PM who's not out to take advantage of a long distance investor.  

I asked for the routine documents including leases and utility bills.