I am currently unemployed and looking to turn my financial situation around, "I have had it" as Jim Rohn would say, the power of those four words.

Cost Assumptions Purchase Price $285,000.00 Closing Costs at 4% $11,400.00 Total Cost $296,400.00 Mortgage at 30yr/5% Interest /20% down $1,223.95 Monthly Expenses Monthly Rent $4,500.00 Electric $250.00 Water $200.00 Trash $100.00 Vacany Rate 8% $360.00 Maintenance 8% $360.00 Property Manager 10% $450.00 Insurance $300.00 Monthly Property Taxes Due $121.97 Cap Ex Reserve 7% $315.00 Total Monthly Expenses $2,456.97 Less Mortgage Payment $1,223.95 Theoretical Cash Flow $819.08 Cap Rate Cash On Cash 8.6 14.37

I'd say you are on the right track, but don't underestimate the power of a follow up mailings.

Hey Jacob,My team and I currently manage apartment buildings in a few different areas of the County and have the infrastructure/man power to take on more with relative ease.  

They can work because they want to and not because they have to and that's a very POWERFUL thing in life. 

We do shipping nationwide and moving the the west would help double our production power and take advantage of lower shipping rates to the west.

I would think 5k or 10k would be plenty, though it will depend on house size, age of roof, windows, sewer, AC, Furnace, electrical, plumbing. 

What I meant, though, is if you're going to incur the expense of PM, do you look for any key aspects of a deal e.g. property taxes being low, how much below market a property is, new electrical, plumbing, roof etc. that may ease the blow?

My estimates (not including GC overhead) indicate framing (materials & labor) in the $11/ft2, Plumbing & electrical in the $4-4.5/ft2 range each, HVAC in the $3.75/ft2 range, sheetrock & insulation in the $4/ft2 range, cheap vinyl siding in the $3/ft2 range.  

Knowledge is power and not knowing the right answers or the right way to maneuver around a situation can make a flip a flop.We've been in business for over 25 years and if you have any questions don't hesitate to reach out!