That is a huge red flag for me.

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Follow your favorite forum topics and set up keyword alerts!

@Tyler Ferguson It will be a little easier for your taxes and finances if you create a separate account for all of the property's income and expenses including the personal and rental part.

This could include an annual licensing fee from your municipality or a stray utility bill or whatever. 

The involvement of onsite management, often seen as a potential red flag, can lead to the property failing crucial qualification tests.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

*My future wife is supportive and would be including her income to DTI calculations as well as potential savings.

If you factor in 8% PM, 10% vacancy including economic vacancy and capex/opex of 10% (5% each), your costs (still not including T&I) would come up an additional $2016, for a total of $8895 at 1.25M and $6969 at 900K 

Having said that, I am getting much better at analyzing properties on my own and have a specific set of criteria a property MUST meet and perform enough due-diligence research that the chance of missing major red flags are getting smaller and smaller.And yes, as the overwhelming majority of foreclosures are either cancelled or "purchased" by the plaintiff (bank) and the limited inventory (at least in Hillsborough County) is often bid-up by neophytes or snatched up by large wholesalers and other REI firms that specialize in flipping C-class properties, there are few opportunities for us little fish.To keep myself motivated, I've been keeping a log of properties that went to third-party bidders (i.e. private buyers) which I could have bought had I been monitoring the auctions during periods when I was too busy to do so.

Also, are you charging one flat rate to include utilities or charging rent plus splitting up utilities?