After much work and analysis we decided on working in these markets. 

There's always a "better" deal around the corner, it's part of analysis paralysis.

I'm in property management with PMI, here is a free tool to see what the rental analysis would be for that area. 

If they are providing value you can pay them as a project manager.

I'll use that to re deploy into another rehab project down the line. 

Projected equity How did you find this deal and how did you negotiate it?

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Income would be roughly $12,706 ($16,800-$4,094) based on projected annual tax (Wake County 0.96% of AV (taxed at 0.5 market value)) and insurance (0.59%).

Make sure to do a good cost analysis and break even to see how long to recoup the cost.  

There is a one car detached garage at the back of the property.I'm an absentee owner that rented this home out for 11 years with a management company and now I'm in the process of renovating it.When I'm done with the project in a few weeks, I would like to 1031 exchange it into another cash flow property possibly in Indianapolis IN, but I'm open to other active markets.