quick numbers:$135,000 asking$27,000 down payment (20%)$108,000 mortgage at 5% (guess) = $580Taxes $1200/year = $100/monthInsurance $1200/year(guess) = $100/month (guess, shop around)PITI = $780/month (meets 50% rule)plus10% vacancy = $175 ($1740 rent x 10%)10% management = $17510% capex = $175Sewer/Water bill (I find it hard to believe that tenant pays this) = $150/month (guess)trash/snow removal = $50/month (guess)10% miscellaneous (advertising, cleaning, buffer, etc) = $175/monthtotals = $1680cash flows = $1740-$1680 = $60 Essentially, you will break even if you turn it over to a property manager and are never involved in the day-to-day operations. 

I'll bet it's a major consideration for families (behind safety and school district).

My wife and I are funding the down payment and will pay his living expenses (we had already saved for those expenses in 529 and ED-IRA), so essentially, we are taking care of 100% of the expenses and funding.  

honestly, I would install carpet instead of laminate if that were my only 2 choices. the problem with laminate regardless of price is that it is made of essentially compacted fine wood fiber, like cardboard, and the edges are not sealed, because of this, generally on the butt end, any small amount of moisture will cause it to swell.

@Matt R.https://www.kcet.org/shows/city-rising/city-rising... this is on KCET "public television" It's sponsored by CALIFORNIA ENDOWMENT who gets funding from California Governemnt CALIFORNIA ENDOWMENT gets $billions from the govenemrn then pours it into Tenantstogether.org So essentially our taxes are paying this organization who wants to increase government control of private property.... thus upping their control and paying government worker salary.

It is zoned as single family house, located a demanding area with good school district.

I can see your logic on considering it a repair but essentially the only difference is the absence of tear off of shingles.

In the process of building your credit back it is essential you eliminate all bad debt before you begin to save for investing.

Curtis Jones , Essentially you can have as many loans as you want without providing a down payment, so long as you don't go over your entitlement.

Living in this Pasadena home isn't in the cards for us long-term because the home isn’t ergonomically safe for kids and we also need to move into a good school district.