For all we (forum readers) know it was priced artificially low to inspire above-ask bids.

The thing is, I make very low money per hour and I can't go on like this.

Codes have changed and while you think you are simply installing base heat, you may also have to upgrade a ton of other things as well.

So you sell it low so the offers received are even lower.

All in for low 30 thousands pulls in around 1150 a month in gross rent.

If some are very low you may experience a move out but this is simply part of doing business.

After some time due to some reason the rents in the neighborhood goes low, vacancy rates are hitting high and also the property price has gone below the purchase price.

Your PM figure is low unless you have someone in the 5-6% range like you are showing. not a ton of cashflow, but not bad if you are gona live there.   

Fortunately home prices are also low enough to the point that things can cash flow. 

That being said, I was considering building a low cost franchise opportunity to people who struggle, like single mom's and the elderly who live on fixed incomes, allowing them to rent an apartment from me and the could rent the rooms out themselves.With the right team I see a win win, but I wanted some feedback.