The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms of appreciation (3% annual average) Here are the details: Purchase price: $170,000Rental Estimate per month: $1500-$1550HOA: $1000/yrInsurance: $1100/yrTax rate: ~3.4%I assumed the following:I use a 20% downpayment on a 30 year fixed conventional loan w/ 4% APRNew build so warranty is covering most things so minor, if any, maintenance will be neededTake into account 1 month of vacancy per yearTake into account annual broker fee to list of one months rent~5K closing costs~2k in appliance purchasesResult: Assuming rent range of $1500-$1550/month and assuming 1 year I wont have to pay the broker fee to list:From my cash flow analysis I am projecting to have positive cash flow of around .02%-2.1% per year.

In my experience, the farther in advance I tell my tenants the better they react.I've heard some landlords say that they raise the rent when their costs go up (such as property taxes) to cover the increase, but that makes no sense. 

Does anyone have a rec for a spreadsheet that shows the basics of P&L associated with a rental property, but also lets you input hold period and value appreciation assumptions so you can get a full picture of the IRR after a sale?  

Estimate Rehab costs (take pictures) - get bid from my GC3.  

What it looks like in the day and in the night, especially on the weekends so you can have a clearer picture of your expectation but i am assuming that your going to get a PM to manage the propertyIn my opinion i personally wouldn't go for this deal. 

I'm finding the hard part is more finding properties that are in a good location and also don't have restrictions on short term renters (either hoa or local regulations).I've reached out to owners with the same basic offer (increase rent, cover repairs up to a certain amount) and most people are hesitant to even discuss it, so i think it's a sheer numbers game and being ready to buy a property when one shows up that matches my criteria

It's more than I would want to take care of for the property size, and based on the limited pictures it doesn't look terribly useful as it is.Could the barn be converted to a garage or work shop at a reasonable price? 

And if there's a cap-ex hiccup that comes along there's no equity for the <insert form of debt here> to cover that.  

I'd be able to cover the loan payment based on what I'm typically offered for a housing allowance.

Any thoughts on how to creatively cover the down payment and rehab costs for a second property given the above scenario?