The rate is usually better than a cash out you just cant cash out any extra equity

This is what I usually recommend for folks starting out.Then once you get a few units under your belt and looking to expand, I would suggest going with a more robust piece of software like Appfolio or Buildium. 

I have always been able to obtain insurance but the carrier usually requires all visible knob & tube to be removed within 30-60 days of purchase.

When going through a wholesaler or even an agent with a off market deal you can usually find great properties.

They are indeed separate structures, especially if a downpayment is usually required for a wrap around mortgage. 

The tenants see we are putting work into the house and usually like the results when they move in.

And if you end up putting any additional capital in to cover budget overages, that capital would also have interest paid back on it.What this all looks like when you sell the property: calculate your net deal profits after all your expenses like usual.

The age and condition of the home usually determines how much money you want to put aside for capex each month. 

This could take months, and usually does especially if no WILL exists leaving her the estate. 

The Zillow estimate (even though Zillow is usually is usually off) is around 186k currently.https://www.zillow.com/homedetails/955-S-Drew-St-MESA-AZ-85210/7632273_zpid/Here is another one that we purchased for 69k, we put about 38k into the rehab and we lease optioned it for 150k, the Zillow estimate today is 148k and there is still around 4 years left on the option.https://www.zillow.com/homedetails/595-S-Main-Dr-APACHE-JUNCTION-AZ-85120/8667008_zpid/Here is another one that we bought for 55k, we put 5k in the rehab and we lease optioned it for 75k.