Don't be afraid to bring in a basement foundation repair company and get a quote to get the issues identified and fixed. 20% of 110k =  22k Down110k - 22k =     88k  Financed88k @ 4% for 30 years ===  Monthly Payment of $420  (principle and interest)Other Numbers you'll need:Property Taxes  (get on the county website)Insurance (just call an agent or ask owner)Repairs    ( Really depends on condition of property, 10-15%)Utilities    (get as many months of bills as possible)Property Mgt (even if you plan on doing this yourself)vacancy     (depends on market and property, 10%)LawnCap Ex    (depends on property but sounds high on this building) 15%These are VERY VERY rough numbers but lets look anyway...Gross Rent- 22,500 (assuming all 3 are rented at 625 and no washing machine income)ExpensesP&I-          5,040Taxes-      2,200 ( I figured 2% of home value)Ins-           800    Repairs     2250     Water       1800    (150/mth)          Look into heat billVacancy   1125Prop Mgt  2250Lawn         300Cap Ex      3375Total        19,140  22500-19140=  3,360   Cash Flow YearlyInvestment of 22,000 /  3,360 = 15.2% ReturnPlus tax advantages, paying a little down on mortgage, possibly appreciation, learn a lot.Location, Basement, Local Market, Comparable properties, and firming up numbers ALL need to be looked into.Let me know what you think! 

@Lekisha Cole zillow does have recently sold comps that you can compare the last 6 months of sales in the area.

I know properties in my area are very expensive compared to rents, and I am trying to find how to make my own numbers work here.  

Local prices for comparable built-out properties are about 1/3 of South Lake Union, so the investor ROI is usually going to be higher.  

We are both much more interested in long term returns compare to current cash flow.

I haven't seen that with the guru programs...even the ones that like to compare themselves to the Ivy League universities...  :-)

Once that is over I will probably compare that to QuickBooks. 

It makes it really easy to compare apples to apples.  

I've remodeled a house next to a well maintained cemetery and it did take quite a bit longer to sell compared to other properties in the neighborhood.

Sure, $800 rents might not look like much compared to markets where you're getting $1200 but you're paying half the price for the home in many cases.