The rub is, once there is a judgement, the case is removed - forever hidden from future landlords doing their due diligence. 

Are there any added fees or anything else to consider? 

I personally wouldnt rent to anyone who smokes but if I were you I would just increase the security deposit or do a non-refundable smoking fee.

Flat fee?

Don't forget to account for lawn care, legal fees for evictions, leases, etc.I would need 0% owner financing for this deal to work for me.  

@Minh Nguyen have you included the condo fees in your calculations? 

That said, are the SEC attorney fees cost-prohibitive on something that small?

.), common electric, water/sewer, garbage fees, tolls/gas/mileage, your time, HOA, etc.

We had it cleaned by a cleaning crew and had the carpet professionally cleaned (same people we used right before they moved in) We withheld the cleaning fees and the unpaid water bills from the deposit which totalled to about 500 (the water bill alone was over 200).

These include loan payments (if you had them), taxes, insurance, HOA fees, utilities, etc .. that occur during the Rehab period and up until the property is fully rented.I understand your reasoning for the 60% LTV to gain better cash flow.