You want a seasoned agent working on the preventive maintenance part of the deal and a good bank to walk you through the process.   

Hi @Michael Behr,In my opinion, the rental income is way too low for this to make sense.

Side note: Keep in mind some items are naturally low profit margin work and some are high profit margin work.

All of these numbers seem low, especially property taxes if this is in TEXAS:Vacancy $105.00 (3%)Repairs $105.00 (3%)Management $175.00 (5%)Property Taxes $66.67 (2%)What kind of unit is it?

The barrier to entry is so low, and I wouldn't buy into a fund because somebody has a license to broker real estate.There was a comment about E&O. 

WIth buying a property as a primary residence, you'd receive far better terms with an FHA loan.With an FHA loan, expect an interest rate in the high 6's low 7s.

Rates are super low today, often 3% or less which includes the rehab dollars.

Low cost of acquisition.

Whether you're a seasoned investor or just starting out, I'd love to connect and share experiences, insights, and ideas.So, if you're based in South Florida and share a passion for real estate investing, I'd love to hear from you!

Participate in online forums, go to local real estate meetups, and talk to seasoned investors.