I know that's not a huge cash flow, and any repairs could make me break even.

If you buy real estate, you will spend hours and days and weeks and months of your life dealing with it… Home repairs, guests,… An investment really has to be pretty amazing to sacrifice all that time for itThe houses I own I bought many years ago at dirt cheap prices and dirt cheap mortgage rates.

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

I would add to this account every month, allowing me to pull from it whenever there was a large repair or capex event. 

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.

Especially, after the storms and the loss of the projected income and they have no way to repair or replace everything that was lost.  

Maybe seller financing.But let me ask this question, what happens if in the third month the furnace goes and needs $2000 worth of repairs?

Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.

I stack cashflow for capex and repairs because I have a decent W2 job that I live off of. 

Mortgage rates at 7% 2. 25% down3. 10% of current rents budgeted for capex, monthly repairs and maintenance and property management fees.