- it's always good to see another Hoosier utilizing this great site!

As a conservative estimate including taxes, insurance, 5% vacancy, utilities, and repairs we would have been netting over $800/month.  

The issue with ONLY using this method as a way to invest is that it fails to take into consideration: 1) vacancies and bad debt (i.e. uncollected rent); and 2) operating expenses (including: taxes, insurance, repairs & maintenance, capital reserves and utilities, property management, super(?)).

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

Are there bad debts owed to utilities - a very bad sign?

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

Regardless of what type of loan you utilize, the taxes and insurance will be the same (though some lenders may offer/require escrow for these items).

But I have a sense that this may be a fair asking price.I would normally also probably go to things like rentometer, apartments.com, zillow, and not sure what other sites to see if what the listing says about $500/month is normal for that area.I'd probably then double-check to validate with the county website to verify taxes have been paid.And I would certainly want to touch base with the listing agent/owner to understand if they could supply a rent roll, utility costs, better understanding of who pays for what, how long the leases are good through, if any new CapEx-related equipment was purchased recently (or how old this stuff is).  

Thanks in advance for you help.Ps, asking is 144k, rent is 1775 total, tax ~3k, unsure on utilities, insurance probably ~45/month

My primary lender is based in Florida so I would probably need to utilize a new lender for out of state transactions.