If you actually managed to get the rents your hoping for then 260k but I wouldn't put my money on it.6) your insurance is going to be closer to 2500-3000k7) i very highly doubt you will get a 30 yr note on this property.8) you might as well factor replacing in the roof into your purchase price cause It will need to be done immediately9) I think your capex allocation is super high, especially if you plan on doing the rehab correctly upfront.

This is based not only on a mortgage’s closing costs but factors like property taxes and utilities paid in to date by the seller.At the closing, or settlement, table, the buyer (and seller) sign all closing documents, including the HUD-1 (see a sample HUD-1 here), and the final loan documents.The buyer pays the remaining funds in their downpayment to an attorney or a representative of the title company (who is present at closing) via cashier’s check.The representative from the title company or your attorney will then record the transaction and deed with the appropriate municipality.The buyer receives the keys and, unless indicated differently in the contract, officially takes possession of the property.

You'll have to factor in the costs and time to get it up to speed.

Right now, you are able to live simply because you have not yet reached the point where many fall into lifestyle inflation.

It looks like people are doing them everywhere but walk ability is a big factor.

For those that own properties free and clear, or even those that are financing, do you factor property taxes into your formulas?

Many investors would not be excited by your example.The answer relates to risk tolerance; supply vs demand; and other factors (location, location)...But sure, one reason why investing in Real Estate works is because renters keep on renting!

I don't think you have anything to worry about California - ie, earthquakes.  3% net annual cash flow is pretty low but would be much higher if you factored in appreciation.  

That will be the biggest factor in determining seasonal demand up here.

I don't know much about Michigan other than i hear property taxes are high so you had better be factoring that into you plan!