The last finisher gets to fall on their butt in a game of musical chairs.So no permits ongoing and strong rents bodes well for you.

Location: Indianapolis 46222SFH distressed, built 1938, 3BR/1BA, 1 garage, Liveability index 72SQF = 1106 Lot Size = 84 x 112Price = 36.500USDRehab costs = 24.235Closing costs = 1.500Total price = 62.235Rent per month = 725 Expenses per month in USD Taxes = 54 Insurance = 40 Prop Mgmt = 75 Ongoing Maint 5%= 36 Vacancy Loss at 5% = 36 TOTAL EXPENSES: 239Per my calculation 9.6% CapRate.I would pay all in cash as I am from Europe and financing for an foreigner is too expensive and does not make sense in my view.

Actually, I'm studying for my license and the advice I gave is how I intend on going about it when the time comes for my interview.  

What do you use for an ongoing maintenance number and cap ex number?

I will only own 50% of the house/business, but I found the property, will oversee the remodel, will find the tenant, and deal with many of the on going maintenance.

It 's good that you have the rehabber in mind, as then you will establish an ongoing relationship.

There have been several posts here that discuss ongoing maintenance issues that lead me to believe the rehab was shoddily done. 

We stopped buying paid advertising on Go Section 8 because it was a money maker for them, but not for us.

I plan on going to this Thursday's meeting as well.

This saga is ongoing.