If so, it seems like it would be easy to be badly in the red before even getting a house under contract (in addition to, obviously, the marketing costs).

But if these really are the numbers then from first glance it doesn’t sound like a bad deal.

I don't love it, would recommend to make sure you won't be putting yourself in a bad position.

Pros: -Most major cap ex fixes are covered-A lot less to rehab if bad tenants- great HOA can fend off bad neighborsNegatives:-If problem happens between units can be a headache-tenants tend to not stay as long-bad hoa can cause some issues There is many factors for you to determine- each situation is different

Add in the down payment of $3500 and you're at $69,465.You're paying market value and getting a high interest loan.Also, verify the trash and sewer data.As for the house itself, seems like a bad deal to me.

As far as cash flow, the best way to achieve at least 1% is going to be through multi units.Getting your license wasn't a bad idea because it helps you get a feel for running comps and understanding the market better.

@Julian Joseph  Personally, I'm of the mindset that debt that doesn't produce income is a bad debt. 

If they start demo,and then never get back to that site, you're in a bad position as you've put in 100% and now have to put in 100% of the rehab as well when you take it back.  

I badly need to finish up my current flip and my contractor bailed

One or two bad reviews are probably not a big deal, but 10 might be.