Look where the growth is headed and if it is sustainable. 

Am I in over my head or should I try it out?

A developer with a good relationship with an architect can get services pre-contract that other developers cannot get and thus has a huge head start on structuring possible deal term sheets or items they can circulate to their investor pool to get a feel for whether or not that type of structuring will work from an overall deal perspective.  

I guess I stuck my head in the sand and "Life happened". wow.

If this was your first investment, and you'd be looking at negative 700 a month, I'd really be scratching my head (and maybe even some other body parts) on that call.But the bottom line is that your business (i.e. other rentals) is paying for this one too.

Thankfully I haven't had to deal with this issue but I thank you for the heads up.  

You were head of me :-)@Andrew Syrios good point mentioning HELOCs for cash flow management.

Hey Matt welcome to BP, I wish I had my head in the real estate game when I was 17, you are well on your way and surely in the right place!

Never bounce a check again :)  Make sure the bank has online interactions because that is the way most people are headed.

I can't figure out how you got to the 15.35% cash on cash number, but when I run these numbers in my head it isn't even close to that.Are you putting 20% down ($66k) plus $60k rehab?