Keep in mind when areas appreciate so does the rent and eventually higher appreciation areas can have very high CF if not the highest compared and even above 2% level is very common for the longer runs.

The tenants are on a 12 month lease, they pay all their own utilities, and they maintain the grass cutting and shoveling during the winter. 

Hoping to be able to utilize some of my personality and time to help and learn with others.

Good morning BP, Looking for different examples and advice as to how property managers handle the payments of taxes/insurance/utilities for property owners?

Tenant pays all utilities except water/sewer/trash which is about $70/mo for both.

(the down payment is completely relevant to the seller)Interest- 7% is pretty standard...it's a premium paid for consideration in carrying the noteAmortization- 30-years is typicalPayment- I would look for the actual P&I based on the amortization schedule, but again, this is relative to the sellerBalloon- 48-60 months is common, and this is completely up to the seller as well (If sellers are leary of the time frame, I always agree to attempt a re-finance sooner...but no guarantees)Some extras:I always pay the listing agent's commision based on the transaction price...otherwise, you can structure a partial commission the first closing and a second commission when the balloon is due...waiting 48-months for the rest of your commission is crazy, thoughWe pay all the doc prep fees (note/mortgage/amortization/assignments/personal guaranty) Typically around $300, so not bad.- use the attorney at title and add it to the HUD-1We use a clause in the note that waives the right to defend a foreclosure in default, so the property returns to the seller without contest (varies from state to state I imagine)We also pay the sellers closing costsAll of this stuff is negotiable...you can always push things with these...like lower the down payment and have the buyer pay all your clients fees and your commission, etc.Give me a shout if you want to chat more about this topic.

Is that common?

Or in this area are short term rentals more common?

I'd get actual numbers where possible like on taxes, insurance, utilities, yard & snow removal, etc then add 18% if hiring a PM to 'take care of everything.'

@Chace Fraser I have definitely considered pursuing that path, or at least utilizing my career path to network with probate attorneys or attorneys who do real estate closings.