This is bearing there are little to no repairs needed.

If you want to invest OOS do it because you can buy a quality asset not cheap asset.

You won't need to do any drywall repair, so that's a plus.Here is an example picture:https://i.pinimg.com/originals/67/ca/af/67caafa0e2...

Asking is $110k and repairs are about $40k. 

You don’t have to make the place look like the Sistine Chappel to get quality paying renters.  

Holding quality properties and getting lots of rent checks every month is building wealth !

Determining After Repair Value (ARV) for flips is done in the same way - What are comparable properties in the same area ("comps") selling for?

Please let me know if I'm not including any expenses or missing something key.Property Details:- 3 / 2, 1374 sqft, $89k askingExpenses ($802)P&I: $369Tax: $188Insurance: $70Utilities: $50Vacancy: 5% ($62.50)CapEx: 5% ($62.50)Total Investment (Down Payment + Closing + Repair) = $25,499Rent = $1250Cash Flow = $448Cash On Cash ROI = 21.08%This is a single family home in an area where I've competitively estimated the rent (Most units running between $1150 and $1450). 

As for the rest, there are major differences between Net Operating Income and Net Annual Income (or annual Cash Flow – which I consider the real measure of an investment performance, how much money puts in my pocket on a regular basis) and Cash on Cash Return on Investment.Net Operating Income is calculated before debt.Net Operating Income = Gross_Annual_Rent – (Vacancy + Operating_Expenses)Where Operating Expenses = Taxes + Insurance + Monthly HOA x 12 + Monthly Management Fee x 12 + Repairs and Incidentals (Warranty, Utilities if any paid by owner and/or during vacancy, CapEx reserves, etc., don’t forget the CPA and Lawyer costs) Again Net Operating Income is calculated before debt - what matters more is the NET Annual Income (or annual cash flow): NET Annual Income = Net_Operating_Income - Mortgage_PaymentsAnd that leads to the Cash on Cash Return on Investment: C/C ROI = Annual Cash Flow / (Down Payment + Closing Costs)And I’m willing to bet you don’t get C/C ROI above 10% on any SFR in Austin area (based on these calculations and bought with conventional means, not subject-to or assumptions, or owner financing or other creative financing).

@An Nguyen I would find a duplex below market value (your all in should be 75% of ARV including repairs).