Here's the breakdown for those who are wondering;House purchased at 140k with 20% down (28k)Rehab/Repair costs:  $3100 of my own cash, $2100  (paid to me at closing) to the painter from sellers for the remainder of the exterior paint job  PITI Payment:  $861.00Rent: $1570.00What does everyone think for my first investment? 

Once a property was listed, it was like a meat was threw to a pack of wolfs, it would be gone quick!!!!

Estimated rehab is $175,000.I was able to negotiate the price down to $230,000 and the ARV is $600,000, so luckily, there's a lot of meat on the bone.At one end of the house, there's a big leak in the roof and that wall seemed to be sagging as the door in that wall was jammed shut. 

Feel free to PM me at your convenience.

I have contemplated hiring a company just to rent it out for me, at the expense of one months rent.

What is the best option for me at this point.

Box; rent can only be paid by deposit.For your convenience, the nearest location to your home is 123 Main Street, City, or you can execute a bank-to-bank transfer using the routing number provided.If you have any questions, concerns or maintenance issues, you may call or text my cell phone at <Google voicemail>, or you may email me at the address listed at the top of this notice.Please don’t hesitate to contact me with any questions about this transition or any other pertinent issue.Sincerely,<you, the PM>

I also ask this based on the end investor, how much meat do you leave on the bone for them, as far as the equity between fair market value and agreed purchase of the note?

And if he doesn’t make me at least 10k, then I don’t do any more deals.

If the ARV is $500, then the seller has already left you a good chunk of meat on which to feast.