When you google any address, you usually find a hundred different websites that pop up information. 

update outdated sink and bath fixtures (no gold fixtures), update cabinet handles. 

Sure you can extend your loan on the property by 15, 20, or 30 years by refinancing and increase your monthly cash flow by a few couple bucks or so probably (I haven't run the #'s on your specific situation) but you could have a completely paid off rental property in 9 years worth a couple/few hundred thousand dollars that pays you at least $1200-$1500 every month (market rent will almost definitely increase over 9 years) every year for the rest of your life.

The other option is spend hundreds if not into the thousands on travel costs.  

Previous owner hammed the cabinets and they took away all appliances: fridge, range, dishwasher ... you name it. 

The home has been totally redone, carpet, cabinets, insulation, flooring you name it its been redone.  

I work this out to several hundreds of dollars per hour, each, for the agents.

Now, you have to have your Team of individual, licensed, contractors who can charge you a hundred dollars an hour to go to Home Depot to get the parts and a big flat rate for the whole repair...when they have the time.

You are unlikely to find a cash flowing investment property without significant effort, a great connection, or a bit of luck in any of the trendy areas unless you have several hundred thousand dollars to put down.

The houses are identical expect for the fact that ours is a lot nicer and completely rehabbed.Here are the numbers:Purchase price: $160,000Mortgage: $1030 (taxes and insurance included)Proposed rent: $1,500Property management fees (10%): $150Cash Flow: $320 (max) - The house was completely rehabbed when we bought it so there should not be any major expenses, but I would still plan on setting aside at least $150 for small expenses/vacancies.My thought is this: Even if I broke even or made a hundred bucks or so a month, its better than taking a $10,000 hit, right?