Do I subtract 5-10k off the offer for my assignment fee and get it under contract for 30-35k and advertise it for 40-45k?

And, how do you amortize zero interest without subtracting it ALL from the total?

I took their starting price and subtracted 10k which was what I felt my worst case startup costs including financing and finding a tenant would have cost.  

IF you will be paying all the utilities, then you need to subtract another 7 - 10% which will eliminate your cash flow completely.Unless you can reduce your mortgage, I do not think that this is going to be a very profitable investment.

Well the first question I always ask here is have you factored ALL expenses into your cash flow, or are you just taking your expected gross rent and subtracting PITI?

For a real world analysis, subtract the mortgage payment (P & I only) from 1/2 of the gross rents.

Subtract that amount from $475, and that's your best guess (barring any *real* data) at your cash flow.Of course, if you're managing the property yourself, you'll save about 10%, and your expense ratio will be closer to 40%, on average...but that doesn't account for your time spent managing, which I imagine you don't want to be free.

Now subtract the monthly taxes and insurance (say 100/mo) and that leaves you 110 a month for a mortgage payment which equates to about 20k loan.But it all depends on what your bills are.If you are going to be replacing your rent (i.e moving in) and your car is paid off, then maybe you only have 200 in payments and that leaves you able to have a PITI payment of 1090 a month.

Furthermore since you are paying yourself the interest, you do have the option to subtract whatever interest you paid yourself from your ongoing 401k contributions without affecting your 401k savings rate.

I checked the Assessor website to find that the Property Tax is about $6000.00.When I subtract the Property Taxes from the Expenses I am Left of with $3700.00 which is $308.00 a moth!!!