You'll easily recoup the negative cash flow as you cycle in new tenants. 

Meaning where the income off your properties allowed you to add additional properties more easily?

I've heard that it's hard, or costly to get PMI removed off a home, and I was hesitant to even ask how to have it removed. I've heard people have been told three year minimum on before it can be removed, I heard it ta...

If a tenant becomes a problem, we can easily raise rent to cover our extra work or to encourage the tenant to voluntarily move out.  

I like this area as it is close to home for me and rents easily.  

They only came down $3k off of list price and that is typical for something that's only been on the market 21 days.Your offer is a little high and that's why they countered so close to your amount.If you can get it rent ready for under $8k then you should be okay, as long as, it can easily rent for $800+ and it doesn't get vandalized.Also, the listing broker can be a little "difficult" to work with - so, just be prepared in case anything flares up.I hope that helps.

In the other way, you can easily obtain 1% rule here in Houston for anything less than 150k house.  

On it you can filter for recent sold comparables and browse through the pictures to determine which ones were fully rehabbed.As for estimating repair costs, I'm still struggling with that.

You could easily buy 3-4 properties here renting them each for $750-$900.

Do they mind having to cut the grass or change the air filters?