The more of those you have to invest for a higher return, the faster you will succeed.  

So, after we moved out of a rental property over a year ago, the owner, who lives in another state was not able to return to and re-rent the property.

I'd love to chat more to get a better idea of what you are looking for (type of neighborhood, assets available, timeline, desired return..) as well as what why you are investing (buy/hold short or long term or rehab/flip).  

Simply because I feel my people and negotiating skills could easily be transformed and work to an extreme advantage in this field of the real estate market!

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?

No one ever amassed a fortune by not spending without first having acquired a massive income.The entrepreneurial mind, on the other hand, says, "Where can I invest for the best return?"

I don't do leasing for clients as it is a very low return on my time.Typically a leasing broker might get 4% if no tenant rep broker.

I do not want the income to flow through to my personal return because I want less income to be reported for better college financial aid for my kids.  

(Not by using Google maps because they can easily be outdated pictures) There should be some.

Your return won't be as high, but neither will your investment and you can gain some great experience and relationships.Jim.