That was very helpful.The numbers that I have at this point are as follows...HOA - $30/monthTaxes - $100/monthInsurance - $250/monthManagement fee - $140/month ($1400*10%)Sewer, water and utilities are paid by renter.I'm currently speaking with a loan officer about a cash out refinance to see if I could qualify for one as well as what the numbers would look like.  

We utilize various forms of technology to collaborate seamlessly with our clients and rarely have issues.If you are set on using someone local, search the BP forums for investors local to you and reach out to ask for a referral.

Depending on area and specific property, you may also have some utility costs and/or landscaping.Trash service - some areas included in taxes, others usually tenant pays, but if landlord typically pays, add that in.Maintenance and cap ex, when you have a specific property you can fine-tune those numbers.  

Seems like kind of a tight deal to me especially if landlord is paying any utilities.

Every issue you run into can be solved by utilizing this site.

The major misunderstanding and likely the key driving the utility of these instruments is notion of ease of eviction.  

Sit down with them awhile and do some detective work, too, like actually call insurers, trash and utilities, mortgage brokers, tax authority, etc...Your calculations will only be as good as the raw numbers (and I find sellers may give rosy estimations sometimes, rounding income up and expenses down)...

Lots in streeted/ utility areas are only worth 5-7K$, huge supply.

.- it's always good to see another Hoosier utilizing this great site!

Right now I'm just looking To flip the land.The property is 14,000 sq/ft with sewer & utilities at the street surrounded by very similar lots & houses in the neighborhood.