All hard surface floors and counters are installed for ease of maintenance.

I'd be happy to rejigger some of this if you can show what you're using as your guesses for expenses.If purchase price is $185k and down payment is 37k, and gross rents are $1775 (which was your upper-bound guess):$1775 gross rent- $830 mortgage- $170 taxes and insurance- $300 HOA- $150 Capex/maintenance (super conservatively low number)- $150 property management- $50 vacancy (super conservatively low number)____________________________________________________Thus your BEST case scenario is something like $125/month in cash flow? 

@Dean SmithThere are professionals that will rent your house and then do the Bnb —your rental is long term a couple years and they do the work and maintenance and you enjoy life.

I also have loan officers that routinely call to see what we are working on.

Here are the knowns:Rent per tenant: $750 (this is below market value due to deferred maintenance, I believe $1,000-1,200 is more realistic)Property taxes: $900 per yearLandlord insurance: $1,000 per yearLandlord pays water/trash: claims to be $125 per month (will ask for proof)Landlord is in charge of snow removal and mowing lawnThere are 5 electric meters, each tenant pays their own (landlord covers hallway and outdoor lights)What I plan to ask for is the copies of the leases, copies of the utility bills, and copies of bank statements showing the tenants are actually paying on time.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Some buildings offer maintenance packages for all repairs that can be paid by tenant or owner.- Many buildings in high rent areas are less than 10 years old (the country is only 47 years old)- Property taxes as Americans know them do not exist here... yet- Income taxes do not exist here... yet- There is a 5% VAT which may be relevant for service fees associated with purchasing and maintaining the property - A municipality fee, which equals 5% of the rental price, is paid by the tenant - Traditionally, rents were paid by the tenant upfront for the year.

Vacancy, maintenance and Capex will do it every time.

If you scan multifamily listings in Oakland (which I do periodically) I'm always struck by a) deferred maintenance, and b) tenants who are stubbornly stuck in place and whose units are really run down and living in bad conditions.

That is the job of the owner to be sure the systems function and proper preventative maintenance is preformed .