So 2-3 times as much as a long term tenant (I have to pay utilities and cleaning and such), and it's a lot more work to self-manage, but with a good property manager, you should see at least a 50% increase over Long Term Rental, and you've got someone inside the house at least weekly to make sure it's in good shape, catch little things before they get bad, etc. 

It is more common than people think but nobody talks about it.

It's been a long time, so my memory is a little fuzzy, but it seems like we may have also offered a credit on their next month's rent to offset the higher cost of utilities during that time as well.

This is common - and there are several groups in B'ham that do it so it, so it is a tried and proven technique - however it's not realistic to expect to find $60k houses that you can buy for $900 and then sell it for $25k without rehabbing it. 

This seems somewhat common.

I too am working towards that goal partially utilizing real estate investing. 

There is nothing wrong with this if the large equity holding has been achieved via appreciation which is the case in your instance.However, the same equity value would have a greater cash flow if utilized on a multi family.  

I would recommend utilizing the free landlord software that is out there that can provide you with rent estimates for your area, market syndication and online applications/screening.

.$0 in repair costs is a stretch- especially if you plan to increase rents...you'll need to justify the higher rent and that typically means improving the condition of the property = $$Your upfront equity position isn't great, but it looks like you'll start with a bit of equity...and if you decide to improve condition you can force the value as your NOI increasesBoilers are find if they are modern...looks like yours was replaced in 2017- definite positive5.3% on the loan doesn't look too bad...your DSCR is 1.15 ...most lenders will require this to be 1.2++ Vacancy is relative to your local market...not sure 5% is the right number to use or not...I look at CapEx different for year 1 and consider it an up-front out-of-pocket expense...but it looks like your units are in good condition so 5% may be right...maybe high...Water and sewer (and other utilities) seems low to me, but it's specific to the area...and maybe just for common areas?...

I believe it is a common theme that when a lender advertises 9-12%, 9% is for the highest qualified applicants and 12% is for the people who are just above the minimums to lend on (i.e. beginners with low credit).Usually, the lenders that go down below 10% are national hard-money lenders and will not allow the borrower to put less than 10% of the total cost into the property.