@Angelo Van - If you are looking for starting up advice, check out this post.For expenses to factor in your rental calculations, check out this post.

I have some very good lender contacts for vacation homes.  3) Success will be contingent on a number of factors. 

you can get 80% on a 5-7 year term but credit score DSCR and occupancy rate will be determining factors. 

I'm thinking that I will call a landlord/tenant attorney Monday morning.

But be clear that rent must be received by you no later than the due date and that they’ll have to factor that in if they’ll be mailing you a money order. 

Not sure our market will support it.I'm working it as a BRRRR - I think I'll get all my cash out since it works as a fix and flip.I'm going to walk the property again in the morning and might put some pictures up when I get a chance.Thanks!

It is imperative to know that your property is healthy.Trevor Conklin, you will need to factor in other costs such as insurance, water and management fees. 

Does this sound like a fairly accurate way to calculate my initial deal or would you be factoring in other things as well?

But this factor 2 just seems too large to me.

This eliminates so many problems for you at the get, because you will have absolutely no problem finding a cash buyer (or an equity based loan if you need to close on the property) at that price.So, to get started, you have to wake up every morning with the intention of going out and buying a house at 65% actual value or less.