But as of now the cousin and the girlfriend have broken up.

Once DD has stared and I can flesh out the operational details like what will CapEx look like month 15 when I have to replace XXXX and this county adjusts taxes biennially so in month 21 I can expect a 10% increase.

@Joe Villeneuve I use the expected cash flow and any refinance events I get a lump sum of cash in 7 years and then the monthly cash flow decreases accordingly compared to the 30 year where I wouldn’t be able to refinance, I have to track the equity in each loan to assume when to incoprate a refinance.

Is 10%down too low to expect a place to cash flow?

Second, unless this is a high end property, where it would be expected, I wouldn't spend the money on plaster and paint.

But once your chart of accounts and classes are properly setup it is helpful for generating reports to see where/how money is being spent and coming in and lots of other itemsSince you are using PM's, I would expect that they would send you a year-end report in addition to your monthlies. 

I am expecting this to cost around 7k for both windows, I want to make it seem like I am working with them and we are sharing the majority of the burden. 

I am expecting this to cost around 7k for both windows, I want to make it seem like I am working with them and we are sharing the majority of the burden.

The high cash flow may be diminished by the age of the building and possibly more than expected repairs and replacements upfront and ongoing maintenance.    

5 day should be first then the lease is officially broken by tenants, then you can negotiate a new lease new rate including the second tenant if approved.