When doing your analysis you should always calculate taxes based on the expected purchase price.

View report*This link comes directly from our calculators, based on information input by the member who posted.What am I missing in this analysis?

@Mike Dymski@Jay HinrichsAccount ClosedMike, Jay, like both of you, I buy based on Internal Rate of Return (IRR) Analysis, not on calculations that only tell you what the current year return gives you.I met a few BP members recently and showed them how large the Returns are and it's quite shocking.

Does bigger pockets have a parking lot deal calculator?

View report*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.

With out all the competition in the metro area, Absentee Owners could be a pretty good bet since you won't run into as many investors mailing to them. 

I'd be a little more worried about the 2.7x rent.  3-3.5x rent is the safer bet.  4 dependents on one salary is also a big red flag. 

The BP calculators are good with that so use them! 

If you didn't over-pay for the house and he didn't charge you closing fees I'd just adhere to w.e he says....Your best bet is to post on Avvo and see what the lawyers say (its free).