It’s a 4 bedroom 2 bath and has a eat in kitchen, den, living room and formal dining room.

if you want to finance then it will take a lot more as the interest eats into your cash flow.....   

@Jonathan Greene Really great zoom call today; it was helpful to hear everyone explain the issues they overcame and how they each perceive the landscape.

I would recommend reading David Greene's book "Long-Distance Real Estate Investing" before making any decisions. 

At about $9k in negative CF/year (added cost to you), offsetting your current equity/cash out at sale of about $80k, means that in less than 10 years from now (probably 12 due to appreciation), as the negative CF eats away at your equity, the property will be at a permanent, and unrecoverable, loss.Also, paying down the mortgage payment, using your own cash, doesn't save you money...it costs you more money.

They will quickly eat your equity.

Let me try to provide some clarification.David Beard, as you mentioned, Selling and Carrying Costs eat up a large portion of the potential profit on this deal.

I live in Bowling Green, KY (about middle ways between Nashville, TN and Louisville KY) and there isn't a local meetup for real estate investors.  

Just throwing this out there for your consideration...we have been working with a prospective customer to build a 25x25 detached garage in Green Hills. 

How do you treat your expenses for eating while you working on your property away from home?