You were missing Principal and Interest from your mortgage and also Management expenses.Based off of that I put your numbers into it.Rental Income             $2375ExpensesManagement               $190 (8%)Insurance                     $125Capital Expenditures   $71.25 (3%)Taxes                           $325Repairs                        $237.50 (10%)Interest                         $412.50 ($110k @ 4.5%/30 yr)Principal                       $144.85 ($110k @ 4.5%/30 yr)Vacancy                       $118.75 (5%)Electricity                     $250Water ad Serwer          $50Total                             $1924.85Cashflow                      $450.15Looks like pretty good cash flow from that.

Wouldn't you be buying the home from the Institution that she "sold" her title to?

Right after you close on an improved property get an insurance policy that will protect you if there is a loss on that property.Do not cut any corners to make something look better.  

@Jon Olson, your title caught my eye every quickly when I saw it,  as I am typing this myself, my wife and my brother just closed on a 3 unit rental today. 

Where is title companies in Flint, MI or Michigan that can do wholesale deals between the seller and middle man on purchase and sale agreement which can be assigned to the buyer on the Assignment contract which is between the middle man and the buyer.

However the math is simple… run an amortization calculator see what the taxes & Mort payment are, and then know what a flat in that area rents for, With that said here is 2 typical examples of Albany propertiesNew Scotland area 2 family’s run around 220k, 6k taxes, 1k insurance payment would be around 1570 a month, typical rentals would be around 1300Washington ave areas 2 family will run around 140, 3500 in taxes, 1k insurance would be about 1000 a month, with rentals being around 1000 a month.So you pretty much can break even in the not as good areas, grab a roommate or 2 and you’re really cash flowing.But don’t forget about the big savings of the low down payment and locked in low interest rate when you plan on exiting in 2-3 years

I think the agent simply took market rent, applied them to all units, and used one of the R&M rules to come up with his number2. property manager listed no rent income for 6 months straight and suddenly for the very last month on paper there was an income of about 2800 dollars. this made me doubt if the entire income and expense reporting was accurate3. owner did not provide tax or insurance numbers - the listing agent estimated them...I also heard from the selling agent that one of the bigger units will be vacant from next month, due to eviction of tenants from rent delinquencies The owner is out of state and seems clueless on the operations of this building.

Purchasing the property at HOA foreclosure auction makes you the legal title holder, and you then have a legal right to satisfy the senior lien.

Consequently, you need to find out who really gas exoerience with this technique.You need to determine and satisfy all the elements for AP in NM then go to court with your prove-up documents at your Quiet Title Action court hearing. 

You'll find that cash flow is only the portion you collect after your mortgage and insurance is paid and any other debt services on your properties.