It seems to me that prices are at that level in some areas.Initially, I don't mind using some of my own money, but eventually I want to attract investors for profit sharing.My goal is to generate a cash flow of $15,000 per month in the next 5 years.I am hoping that the expertize self-evident on this website and in these forums can serve as a general mentor to me as I embark on this very exciting adventure.

Appreciation is speculation a form of legal gambling.  

Amortized over 30 yrsIncome:Total Gross Monthly Rent: 2,845 (if both units are rented/1,500 if owner occupies top unit and rents out bottom)  Seller thinks 2,945/month for bothFixed Landlord-Paid Expenses:Electric & Propane: 360/month (seller currently has them on one bill so I put 360 into the 'electricity' field)Water & Sewer: 65/monthTrash: tenant pays for their own trash service / owner occupier when living on first floor unit hauled his own trash to dumpInsurance: 90/monthProperty taxes: 550/monthVariable Landlord-Paid expenses: (A bit of a gamble: I put in low percentages here in efforts to make this look like a better deal, rather than being more conservative with higher/safer percentages, so I’m curious your take on this:Vacancy: 3% (88$/month) -I don't think it'll be difficult to rentRepairs and Maintenance: 3% (88$/mo) -It's freshly rehabbed...though yes, I know there will be unseen repairsCapEx: 3% (88$/mo) -It's freshly rehabbedManagement fees: 3% (88/mo and I would be the manager)Future Assumptions:Annual income growth: 2% Annual PV Growth: 2%Annual Expenses Growth: 2%Sales Expenses: 9%Are there any other expenses I'm not seeing, i.e: inspection/appraisal (or does the seller pay those) etc?  

I'm working on some new adventures and would really like to build my own row home.  

We have spent a few months reading books, watching YouTube videos, spending time on the BP forum, etc. trying to gain as much knowledge as we can before jumping into this new adventure.

Bidding on a property without seeing it is always a gamble.

Best of luck in your real estate adventures.

We are now looking to diversify and begin our real estate adventure. 

but if I can help you with anything feel free to message me and I will do my best to help.good luck in this new adventure, you have found a great place to learn.

I think when you focus on that as your goal instead of simply accumulating wealth for wealth's sake, the investing adventure becomes a whole lot more fun.