I have no problem with an electrician tenant i' ve known for a while plugging in a new stove burner but there are other tenants no way. if you have a list of vendors share it but I would not authorized to just fix things.

In that amount of time, how much interest would you pay if you kept plugging along as you are now? 

(Link that'll give you that internet lender today)You can ask your lender local to the Palm Bay area, or at least to Florida, to plug those "Walk on Water" assumptions in and see what their pricing engine spits out in terms of discount points for that advertised interest rate.

I'll start with the numbers that I plugged into the rental property calculator.Purchase price - 25,000Closing costs - 1,250Estimated repairs - 25,000Total project cost - 51,250ARV - 65,000Down payment - 10,000Loan amount, rate, and amortization - 15,000 @0% over 10 yearsMonthly P&I - 125.00Total Cash Needed: 36,250Monthly rent - 800.00Expenses (including P&I) - 503.00Vacancy - 64.00CapEx - 80.00Management - 64.00Prop tax - 72.00Rep - 40.00Ins - 58.00P&I - 125.00Cashflow - 296.00CCR - 9.83%Right off the bat, I will say that this property needs a lot of work.

When I plug the numbers into a mortgage calculator accounting for taxes and PMI and budgeting 150$ per month for repairs I'm getting an all in cost of 1300 per month.

I take the Formula, Cap Rate = NOI / Purchase Price (PP) and plug in the numbers.

Both are a pain in the butt, but may be a cost-effective option to foray into rehab.

Go here: http://www.bankrate.com/calculators/savings/simple...Plug your numbers in and see what you'd earn if you just put it in a savings account.

I'm new to BP and want to get plugged in with as many local people as possible to start gaining experience in real estate.

Any plugs for repairs, do you have to pay utilities etc.