Last thing you want is your tenant moving out, claiming that the bowling ball-sized hole in the wall was there when they moved in and you having no tangible proof otherwise. 

Just a new ball park and curious if anyone has had success with this in the past.

Monthly Cost breakdown:Mortgage: $1900 (assumes 500,000 with 25% down as it is not owner occupied, 4.5% rate)Taxes: $1169 (Spit-balled for lower Westchester as I don't know what town this is)Insurance: $251Heat: $300 (gas, I don't have oil numbers and frequently the tenant(s) don't pay this)Water: $100 (frequently, the tenant(s) don't pay this)CapEx/Vacancy/Repair/PM: $3050 (your number; should be adjusted for possibly higher rent required: think PM cost)As always best of luck and I hope your first deal works, but be sure to go into it with eyes wide open. 

@Brian Gerlach Great point, I do understand that no one has a crystal ball, and knows the answer to my questions, I just wanted to hear your thoughts and calculated predictions. 

@William Sullivan I think she’s telling you that you’re wasting her time, and yours, making a bunch of low ball offers with minimal chance of acceptance...and maybe One of the reasons you’re doing that is you have a rehab costs than other full time flippers. 

Too early to tell though what'll happen, if I had a magic crystal ball I'd be a stock broker instead of a plumber. 

Do not be afraid to make low ball offers. 

I will check temperature and I will also be checking the amp load on it. 

Hello Springfield,I'm looking to get my first Investment property in your city, I have a very good friend there and he has raved about the growth and opportunity here.I was hoping to network with realtors, wholesellers, lenders, and other investors so I can get the ball rolling to land my first deal soon.If anyone is willing to take a moment of thier time to provide some insight, I would greatly appreciate it.

Although I am not particularly "low balling" anyone, I do factor in margins for the unknown during these volatile times.Personally I have been adding to my vacancy reserve (physical/economic vacancy growth) as well offering at a slightly decreased amount (1 percent above prevailing cap rate) due to the current state we are in (Covid, Eviction protections, Unemployment, etc.)