The figures are as follows:Asking Price: 120k (will be brought down)Net Operating income - $20,088.00Total expenses - $10,201.96 (maintenance still to be given)Downpayment 10% = 12,000Less 5% Loan - 6,957.24NOI: $3,244.72 - a 27.04% return at $271.12 cashflow a month.

Many expenses are straightforward - maintenance, taxes, insurance, legal & accounting charges, interest (though, not the principal part of your payment), etc.  

Low-maintenance tenants more than make up for "low" returns.

I've asked the seller for the rental history (has owned 20+ years) and the repair/ maintenance history.

Even with $200 per month in maintenance (which I doubt, it has been completely renovated), we're over the $100 per door threshold.  

BUT ALSO at one point there was an open area for Machine maintenence where they kept some industrial cleaners , a few 50 gallon drums for Machine Lubricant purposes  and a rack for Propane tanks that were used on the tow motors .

ITA the hedges/bushes have got to go, they are to tall for the property and block the views to the house and from the windows they should either be cut lower or replaced with dwarf shrubbery that perennial low maintenance and wither some white stones or brown mulch around them.  

In exchange for this permission, the Tenant agrees as follows:1.To keep no more than 1 domestic dog(s) as described below.2.To pay additional rent in the amount of $ 0 per month; or3.To deposit with the Landlord a "Non-refundable Pet Deposit" in the amount of $ 250 which shall be held as security for the faithful performance of this pet Agreement and shall be used upon the termination or expiration of this Agreement for the purposes of cleaning the Premises.4.To keep the pet from causing any annoyance or discomfort to others and to immediately remedy any complaints concerning the pet.5.To keep the pet from damaging any property belonging to the Landlord or others.6.To immediately pay for any injury, damage, loss, or expense caused by the pet (In this regard, it is expressly understood that at no time shall the Tenant apply any part of the Pet Deposit towards such amounts due, but rather, the Tenant shall make restitution immediately and separately from the Pet Deposit.7.To keep the pet under control at all times.8.To keep the pet restrained, but not tethered, when it is outside of the Premises.9.Not to leave the pet unattended for any unreasonable periods.10.To hold the Landlord harmless from all liability arising from the Tenant's ownership or keeping of the pet, including but not limited to any liability resulting from the Landlord turning said pet over to local pet policing authorities should the pet be found unsupervised.11.To dispose of the pet's droppings properly and quickly.Also, to coordinate the cleanup of the pet’s droppings with the weekly lawn maintenance.12.To insure that the pet will wear the appropriate Local Animal License, a valid Rabies Tag and tag bearing the owners name and phone number.All licenses and tags must be kept current.13.Tenant agrees to control flea infestation and will exterminate if necessary, and upon demand, in any and all areas affected with full cost to be paid by tenant. 14.Tenant agrees that Landlord will not be responsible for the injury, harm, or death of the animal, and agrees to hold Landlord harmless for any damages suffered as a result of any harm caused on the animal or by the animal upon another person, guest or employee.

I'm told that Cuyahoga County routinely allows for the repayment of delinquent property taxes over 24 months without interest.

This would bring my numbers as follows:Monthly Rent - 1500Principal and interest - 693Taxes - 1850 yr (154 month) estimating conservatively Insurance - 1200 yr (100 month) also an estimateCapex - 150 month Maintenance - 150 monthVacancy - 120 month (8%)No property management due the self managingTenants are responsible for all utilities (separate meters for electricity, gas and water.