Originally I was not really considering renting it long term, I was think of maybe just sitting on it, eating the ownership costs and maybe using it occasionally for getaways, or letting friends use it.The realtor I was working with told me there is high demand for rental property and I could probably do well if my ownership/mgmt costs were low.

Well after my first round of calling, its not as bad as I thought.

I just sent out a round of these letters to my tenants the other night.

Many things can be mitigated with enough down to compensate for the risk.Think about car insurance companies.They still insure people with tickets,DUI's,etc. the rate is just much higher.So you wouldn't let someone high risk have a low to no deposit.

And, of course, June 1 is the official beginning of Hurricane Season.Did I mention our year-round fault lines?......

Here are the details for the property I am looking to invest in and my financial status.Property Type: Single family Bedrooms: 4 bedrooms Baths: 1 and 1 half bathsBuy price: 180,000Downpayment: 20% (36,000)Taxes: 6391home owners insurance: 500-600Mortgage calculator: $1,306.00 (30 year conventional) (at 4.5% interest rate | this calculator included HO insurance)I rounded the mortgage with other expenses to 1,500so that would give me a net of 18,000 / yrAm i missing any expenses or do you think I rounded to low or high?

At the very least, the home equity line should be negotiated down, if possible.Not having dealt with funerals myself, thankfully, I would have to guess that you aren't going to get away with shaving much off of that.

My guess if your offer, along with the cover letter, is going right into the "round file".

I grabbed the first property off their web site, 101 Rounds.

We need Jeff round 2!