Save up the 3% or whatever you need as a downpayment (or ask for a gift from family members that want to see you get ahead), and make an offer that has the seller cover your closing costs.  

I think you're looking for a bridge or construction loan from the bank to help cover the rehab costs.  

Account Closed At an average per door monthly rent of $407 I guarantee you need to budget for more than 5% Capex and 5% Repairs.I also don't see anything for utilities, even if it's covering them in between turnovers something needs to be represented.  

If it's more complicated with doors and screens and fancy railings to maintain, I'd lose it.

Someone else also mentioned a cover they can put on tubs these days.  

., not renew as lease ends or evict for non-payment); screen the new ones and emphasize timely payment; also you get a good lesson: give one tenant an inch and they'll all take a mile!

It has old asbestos siding on it, half of which has been covered over with stone.

HAVE a move out check list cost sheet in you policy packet that covers the cost to remove the nicotine,, 200 bucks a room to prep and seal.. and take photos of walls,, have washed so you can see what the issue is, if questioned later..8  NO smoking policy is best way to go.. 

Think about it - why would one of the most efficient, safest, biggest ways to make money in the world not be covered at all in college?

@Ryan McEniff based on my education and training when analyzing a deal I use the following for operating expenses: Check with the local area you are buying by asking the local experts, but as someone who is a real estate Broker in CA, our average closing costs on the buy side for a buyer will run between 2%-3% of sales price (most of that comes from lender origination fees). 10% vacancy (most deals I see when being offered for sale are between 5%-8%, but if it pencils with 10% I know I'm probably covered on vacancy)10% for property management (until I know exactly what the PM fee is then I would modify, but average is 8% to 10%)5% for R&MActual Property TaxesInsurance (Get quotes from 3 companies and take the average)Landlord Utilities (12 month average.