For things like cleaning, painting, etc; she should be hiring people to do that (or if she wants to then contract herself) and bill you those at cost. 

Even with an FHA, the work needed can creep upwards of similar or more than the closing costs, so you're looking at doubling your cost to own a multi-family property. 

We know there are multiple venues to get the leads, some very costly others not, some demanding tremendous effort (like going door by door, driving for dollars , or making thousands of cold calls etc.) , others not so much (mass mailings, for instance).

Florida will continue to suffer from much lower affordability due to increased insurance costs and taxes. 

It cost 200 per year for a million dollars coverage above and beyond your regular insurance.

With a purchase price of $220,000 and minimal renovation costs of $1,500, the property promised a substantial return with a sale price of $245,000.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed.

Requesting Buyer to assist on Closing CostsWe requested the seller to offer cash towards our closing costs.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.