Flat fee?

Don't forget to account for lawn care, legal fees for evictions, leases, etc.I would need 0% owner financing for this deal to work for me.  

@Minh Nguyen have you included the condo fees in your calculations? 

That said, are the SEC attorney fees cost-prohibitive on something that small?

.), common electric, water/sewer, garbage fees, tolls/gas/mileage, your time, HOA, etc.

We had it cleaned by a cleaning crew and had the carpet professionally cleaned (same people we used right before they moved in) We withheld the cleaning fees and the unpaid water bills from the deposit which totalled to about 500 (the water bill alone was over 200).

These include loan payments (if you had them), taxes, insurance, HOA fees, utilities, etc .. that occur during the Rehab period and up until the property is fully rented.I understand your reasoning for the 60% LTV to gain better cash flow. 

Luckily, they believed us as she never complained about repairs, but nonetheless it ended up costing me $15k in repairs, attorney fees and lost income.

Certainly there are transaction fees...

we have a "waterfall" provision in our leases that says payments are applied in a specific order 1) utilities 2) late fees 3) rent.