I have been thinking along these lines and you hit the nail on the head.

Looks like the nails for the siding and cornerboards are holding to firm lumber.

Call a few and ask), maintenance (tricky to nail down.

AND FOR SURE you nailed the 450 to 500 a year insurance proforma.. got to squeeze that extra 50 a month out of the cash flow so you can say you have a 10% return LOL.. in certain areas it works in these areas of super high risk for all things.. its a gamble and I guess that's why they call it insurance just like 21 at Vegas.

I am also in the learning phase and working to nail that first investment property. 

@Caleb Heimsoth @Jay Catena and @Clayton Mobley nailed itWe wrestled with the same question for our own home last year. we ran analysis to assess how it would perform as a rental.  

I add flooring, trim, painting, incidental supplies (paint, nails, etc), building permits and inspections. 

When I purchase anything from meals to nails.

Seth Mosley Ned Carey hit the nail on the head!

Kristen , not very long , it was a matter of some paper work with the city some makeshift plans letting them know what was going on paying the normal fees then calling for an inspection . around seven or eight weeks . they wanted to see foundation bolting , electrical , some nailing , insulation and to see some footings. also maybe find a contrctor to help as i had done two room additions the year before so they new my face at the city.