@Johnathan Le - Your debt service is just a component of what its going to cost to carry that condo; if your rent won't cover that alone it really wouldn't qualify as a rental property.   

And how would an appraiser know if the comparable they are using for the report have similar components?

. :) Yes you can get some of the best deals, but is a lot of components and everything must be done in a timely matter.

We sold off our retail component of that PUD to Goldman, however the turnover  and vacancy rate can be very high in that area due to the number of student residents. 

In the CapEx calculations, I had accounted for the following: Roof, Water Heater, All Appliances, Driveway, HVAC, Flooring, Plumbing, Windows, Paint, Cabinets/Counters, Gutters, Structure/Foundation, Landscaping, and Components (garage door, etc).Please refer to the questions below:1.

@Joel Owens I agree a full inspection of the house needs to be done to determine the condition of the necessary components.

School Districts are a key component to assessing areas to invest in.Houses in highly rated schools districts will usually have high demand.

Communication is clearly a key component that is missing here which is shocking.

If they are old small homes, maybe its a good amenity to keep if you have one ( or have an RV component to the park ). 

I frequently found myself in friendly competition with other builders in the neighborhood by building in expensive custom components.