Thanks,JaredI'd only pursue this if there is an big upside for appreciation, or if you planned on keeping the house forever as a rental.Run the numbers, subtract 15% a year for vacancy and on going maintenance and repairs during each year, subtract 15% per year for maintenance and repairs to get it market ready once you decide to sell it.Example if you were to keep it for 5 years and sell at the end of five years:12x$200=$2400 year gross profit15% for vacancy, maintenance, repairs ($-360.00 per year)= $2040 gross profit per year15% set aside to repair, repaint, replace to get ready to sell on market = $1800 $7000-$8000 net for 5 years of rental.Appreciation over the term you would keep it would be the only incentive, and it could be a big reason why to rent it.

You may need to safeguard the collateral, make emergency repairs, pay for legal notices and filings.

If the continuing maintenance and repairs are more than you can afford and make the property cash-flow negative, I would sell and hope that the repairs I made and the appreciation would earn me some profit.

. - The FHA 203(k) loan is a great way to buy a MFR as it allows repairs to be included in the purchase mortgage.

actual mortgage, actual taxes, actual insurance, actual capex.with that said it will probably be closer to the 50% rule than using teeny tiny percentages for vacancy, repairs, capex, etc.

For a BRRR cash-out refi, lenders typically go by the ARV (After Repair Value), not just purchase + repair costs.

Additionally I spent $35,000 on property taxes, $17,000 on insurance, $35,000 maintenance and repairs.  

Right now, if it's just for income, you need to dig deeper and understand what you are getting yourself into for that income in terms of being a landlord and repairs.

The click on / locking type seems like what most investors use, but repairs seem difficult without having to re-do a large area. 

I actually just sold an older property because there were too many repairs, so I was hoping to find something more hands off as I am an out of state investor.