$31k after tax annual income - $11k rent = $20k or $1,600 per month net income left to cover all other expenses (utilities, cars, insurance, groceries, kids, activities, etc.).Median household income for 38128 is $41k or $36k after tax

Also, we'll need to know what your other expenses will be (taxes, insurance, etc.). 

Got added to the property insurance policy as additional insured.4.

@Makan A Tabrizi Check with your insurance as I’m not allowed to have gas stoves or ovens.

The biggest differences between residential and commercial:  Scalability, financing are very different, property taxes may be different, Insurance is definitely different. 

Nat,Tenant has been unemployed since March and has been receiving unemployment insurance.

If you have high holding costs (financing, taxes, insurance, utilities, etc.) the longer you are holding the less money that you are makingSelling profitably - How long will it take to sell?

You purchase title insurance in case there is a lien they missed.It sounds like you merely defaulted on the contract.

As expenses fluctuate (property taxes, insurance, maintenance items, etc), the cash flow will be up and down and unreliable.

We know that investing in real estate means building a business that incorporates the right investment strategy, tax & legal plan, financing, retirement planning, insurance & estate planning.