Additionally, having a management company deal with the repairs and maintenance is a big benefit as well.

Not to mention the renter and vacancy issues.But back to where you are looking - looks like mtg and taxes come to 1750/mo, leaving 440/mo to cover all the other expenses (insurance, prop maintenance, capex, etc.)  

I honestly don't think caulking around the sink, paint patches from holes on the dry wall, oil hinges, cleaning and basic maintenance would cost that much.

I have the tenants pay for most or all of the maintenance on the property while they are renting and provide a HW.

I need a maintenance man in indianapolis, or a cheaper route to have properties managed by someone.

You have to count for vacancy, maintenance, closing costs , and some other fees. 

Here are the numbers:Initial asking price: 48,000-Little maintenance done on the house in the last 15 years, poor location, and low current rents helped me negotiate a lower price.

The goal is to have a multiplier effect by having multiple properties cash flow.Example: I have a free & clear unit that cash flows $550 after taxes/insurance/maintenance.

Rental Rates high seasonDaily range $125-$160 Weekly $850-$950Rental Rates low seasonDaily $105-$120Weekly $675-$800 Residential tower is one of the most sought-after residences in the beach area.The building is an icon and a staple in Panama’s beach communities– particularly amongst English-speaking expats and vacation homeowners.It’s known throughout Panama for its ideal location, breathtaking coastal views, resort-style amenities, and spacious high-quality apartments. amenities include: Direct beach accessRooftop pool and social area with panoramic beach and mountain viewsGround pool and social areaChildren’s poolFitness centerGame roomLow monthly maintenance feesCovered parking24-hour securityOther advantages: Home to an established community of English-speaking expatsA short walk to several excellent restaurants and a mini-supermarketAbout five minutes drive to the major supermarkets, banks, shopping, and more restaurantsJust over an hour from Panama City, largest city and national capitalDeveloper units have long since sold out, and people take advantage when a resale comes on the market.High resale value and reliable rental incomeThe Apartments iconic and high-demand development– occupying an exclusive and enviable waterfront position and filled with lavish amenities.The units, which sit on the 1st, 2nd, and 4th floor, each offer a prize-winning & unobstructed view of the Pacific, and a private balcony fully furnished, with modern tropical-chic décor that suits its beachfront ambience kitchenettes have also been providedNow for the numbers: average monthly rental: $2,200; property mgmt fee $115, condo maintenance fee: $68; Cable wifi $60; electric $60 mo, Rental mgmt fee: 20%; asking $185,000 USDMore detail in terms of Property insurance, taxes pending.

If anyone in CT/PA is willing to take on a low maintenance mentee from NYC I would be forever in your debt  : ).