So not mortgage free, but it would still help.This is purely an exercise in thought process.

Could potentially factor in re-positioning of the property itself if the tenant actually has an early termination option and exercises it

My biggest weaknesses are evaluating a residential deal and understanding/exercising the tools used to leverage properties in order to expand one's portfolio.

Not the 100k they are asking.I also couldn't find the tax information on this property so I used what they had in the listing.Please note , this is merely a training exercise for me but would be a real life example of what I would be prepared to invest as a newbie REI in charlotte, nc.I am looking for at least $200 per door and a 12% return on investment over time.Is this even enough information for you guys to help me?  

No rush..this is just a learning exercise perhaps.

You will start making contacts with leads over time but still keep your expectations low and understand that the majority of the people that even answer will not be interested.It's just like dieting and exercising.

This exercise shows the issues will be in the effort to fund and the closing costs.

If they won't or can't and there are problems that affect me, the landlord, then I can exercise my right to terminate the rental agreement upon expiration of the lease or with proper notice.

Also a great place to exercise your curiosity...

I highly encourage you to run through this exercise to ensure you are asking better questions, tracking to your goals and adjusting your process if needed to achieve your goals.The two main takeaways are: 1.