But I knew in the back of my mind that if her plans didn't work out, there could end up being some substantial risk for me if interest rates popped.

One such tenant had a mental disability that lead to periodic depression, but once his mind cleared he was able to get back to work and pay his rent again.

If it isn't a very desirable asset just keep in mind your exit strategy.

Keep in mind that this is a numbers game. 

It’s a paid membership but I don’t mind sharing.

Keep in mind that I'm not complaining at all...

If you have experience with waterfalls and wouldn't mind looking over what I put together, I would appreciate it. 

Thanks @Sam ShuehWow, $25,000.I property purchase was a foreclosure.I think I picked up a pretty good deal in current market.I have had a number of realtors view the property, the feedback has been very positive.Location is excellent and this neighbourhood is hot, prices are moving.I have also looked at comps and anywhere from $130,000-160,000 dependent on the size of house and the quality of rehab.I have also had rental assessment come in at around $1100-1200 per monthI pretty much have now made up my mind to hold and rent this property.

It's all a function of the value-add. 6 Cap is not a cash flow proposition on the surface unless you can get it up to 8 or 9. 

Bear in mind, you will save a considerable amount if you are able to do the work on your own.If your not comfortable making a call on the ARV, just ask an agent.