Personally I think you’re very optimistic if you think you’re gonna have big cash flow with out of state property rental.

Expenses seem a little low (Optimistic).

[Full disclosure - I was the buyer's broker and am the PM for this property...And I'm truly not being defensive or argumentative, simply playing the optimistic devil's advocate (if there is such a thing?]

Assuming 25% down at a 5.75% interest (which seems extremely optimistic), and a 30 year mortgage (and I am not even sure you can get a straight 30 year - you all tell me) you'd need a true cap rate of something like 5.25% just to break even every month, and 8.25% to get a COC return of 12%.

@Shalon Palmer, your expenses look good.Interest rate is probably a little optimistic.

Is this too optimistic??

I am still plugging away and I am optimistic that something will stick.

It’s all part of the game.Your Expenses are more optimistic than I prefer.  

Your Cash Flow analysis is too optimistic for me.    

Not just what is written, but how things work in….practice.Natalie wrote: “I still think it's blindly optimistic that the IRS would qualify someone owning 1 rental as a business”“Blindly optimistic” …. needlessly strong words that reflect on my credibility…..or yours.