With more and more people WFH now and the trend set to continue I think cities stand a good chance of becoming exclusively young, hipster, student centers rather than real prospects for people to live and work long term.

Did the property manager charge for overseeing the cosmetic rehab by chance? 

The reporting location doesn't chance if active or passive rental income- still E.

If for some reason you are able to find something that yields a 30% CoC return, then you have a chance of increasing your cash flow by 50%.As you can see, the growth in appreciation get's consideration in the calculation of your opportunity cost (investment base) of selling the property.

E) Was introduced to some contractors via the propety mgmt company While the sale price was $88 K - the place needed min $25 K worth of work - so before any chance to even get it rented I would be over $40 K in the hole - with a rent closer to $1100 - glad I passed this one up and much more inclined to find a higher priced property that is a little more then key ready.

This deal was a little magical - I was outbid in this auction (see section below) and only managed to procure this property by chance.

Or, Not a chance and run for the hills 

The more offers you make at your price the better chances of getting a deal.

This deal was a little magical - I was outbid in this auction (see section below) and only managed to procure this property by chance.

As Amish Tolia said you were light on some stuff but conservative on others and overall if it’s in good shape has a chance to perform nicely, especially if you included the debt service from the HELOC.If stuff at these numbers is attractive to owner occupants as opposed to just investors then exit is much easier (and more profitable) and you have a few thousand in pay down to include in your overall return.