I put solar panels on the home so now its should valued at about $200k.Here's what the numbers look like currently:Mortgage balance: $94,94815 year fixed mortgage at 2.5% (6 years in, 9 left to go)Interest: $197.75 monthlyPrincipal: $776.58 monthlyEscrow: $536.95 monthlyTotal Monthly: $1,511.28 (tenants are paying only $1,000 but I told them $1,600 or get out so they're leaving on Oct. 1)Taxes: $5,268.10 yearlyInsurance: $1,002.15 yearlyIf Renting:Property management company says I can get a tenant for $1,500 to $1,600 a month (one suggested starting at $1,700 due to little-to-no electricity bill).They take one months fee to set-up place a tenant in, 10% every month to collect rent, and $40 fee per maintenance coordination.Refinancing offers:I have 3 offers so far and working on more, all are 30 year fixed/conventional.

Security deposit collected should remain in place until they move out3.

As far as validating the rental revenue, there are a few things to consider: ideally the estoppels would be notarized; confirm the lease agreement information matches the rent roll, p&l, and bank statements (bank statement would show you how much they are actually collecting); request copies of the executed lease amendments or other written or side agreements the owner may have had with the tenant(s). 

This is our first month working together and rent still has yet to be collected (as of sept 14) for some of my units under their care.

I sent a letter letting them know how I would collect money and told them I had a copy of their leases and we would go with them until it expired.

I have been using that, and I also paid my collections accounts from years ago.

Then, you have to rent the homes, deal with tenant problems and you collect the rents and put a few dollars in the bank every month.Suppose, you build one or more homes, or condos on a lot.

Other homes would be expected to be in the $70,000 - $100,000 range for these same components with the balance of the mortgage held by a bank.Below are actual revenue, expense, and NOI numbers for this home which we would use as a model for further acquisitions.Property Management is high, it costs a bit to manage the placement of multiple tenants, handling of disputes, and collection of rents as well as mange the cleaners, landscapers, and handymen.The 2.5% for maintenance, and 5% for capital expenses would be variable but should not be much higher than 5%.

I am using this time to gather knowledge, learn, and collect a down payment, and a small war chest.

I use and love Cozy (apartments.com now) for applicant screening and rent collection.