May as well lock-in low rates now, eat a slightly higher payment (if it is slightly... again, run the numbers). and if you can afford to throw more $ at it on-top of your new payment, you'll just pay it down more quickly. 

Hi y'all, New to this- so don't eat me alive.

Like you said in that water bill is something to investigate it will eat up all your profits.

Low fixed pricing on the management means he better be sure the tenant is reliable and minimal repairs to eat up his time...

But that's also what makes it such a fat target for a claim of basis shifting.  

Until then we are grateful to the investor I met while eating nuggets at Chik-fil-A because he turned me on to BP, is willing to share his knowledge, and wants to train me to find deals so he can delegate that process to me while I also learn from experience.The short-term goal is to engage in our first flip together during 3rd quarter this year.

I also see comps that would get you close to $95k ARV but I don't think that's enough to pay you back totally for how much it's going to eat your cashflow on a BRRRR strategy.  

Just my opinion but you know what that's worth..ha - also very little margin on a house that small - lose one resident and with your labor costs/liab insurance etc - that eats you alive.

This makes sense to me as I can't be home for all the management needed and I know I can higher a management company, but that eats into profits.

I had about 15k in reserves going into this, and it looks like the kitchen is going to eat up between 6-8k.