That being said I actually ran your numbers through a proforma I use and here is the break down for that: Purchase price: 129,900Effective Gross Income: 22,086 (vacancy 10% of gross income; 2454)Expenses:Expenses%EGITaxes $ 4,618.00 20.9%Insurance $ 1,500.00 Heat $ - Electricity $ - Water / Sewer $ 1,200.00 Trash / Recycling $ 180.00 Lawn / Snow $ - Management $ 2,208.60 10%Repairs $ 1,104.30 5%Capital Expenditures $ 1,104.30 5%Supplies $ - Accounting / Legal $ - Miscellaneous $ - Total Expenses $ 11,915.20 54%NOI: 10,170.80Financing: Down Payment $ 32,475.00 25%Bank Loan Amount $ 97,425.00 75%Interest Rate5.50%Closing Cost $ 7,794.00 6%Loan Term (years)30Monthly Payment w/ ESCROWDebt Service / yr $ (6,638.02)Debt Service / mo $ (553.17) $ (1,063.00)As is your property you're looking to purchase is valued at 7.8% cap rate and will produce cash flow of $3500/ year.

At various times throughout the summer, the tenants and their parents have made trips to the property to drop off furniture, clothes, etc. and each time have called to voice their displeasure in the state of the property e.g. the bathroom is completely unusable (even though I have stated numerous times the renovations that I would be making and the date that it would be ready by).

Buyers place values on income streams based on all kinds of stuff (alternatives, interest rates, money supply, economic conditions, confidence, risk, location, supply, asset type, upside potential, demographics).

I learned a lot regarding HVAC systems from the feedback supplied by you all and my own research.

Was originally a Western Auto with furniture building for 30 years and then became a Freds Retail store for 15 years.  

If I supply them with a window valance, you couldn't really see the crack.

If you're comparing the Northeast to other areas of the country, you'd be insane to stay here in the Northeast if you had the ability to invest elsewhere.I've found that in terms of indicators/metrics, you can quickly go down a rabbit hole because there are a ton of different indicators, from general economic to real estate specific.So I've tried to take a step back and say, in the end it does come down to supply and demand.

If the blower wheel is plugged up full of hair, get an HVAC tech out to clean it.Go around the house to all of the air vents, and make sure the flaps in them are open (use the little handle/lever/knob that sticks out of the grille), and that they don't have a rug or furniture or something blocking them off.Sometimes people will turn the thermostat down and then close the vents to try to regulate the temperature - if this goes on long enough, the evaporator (A-coil, inside coil) can get ice on it, which really blocks the air flow. 

As you know, inflation is a combination of money supply and velocity. 

You should be focusing that energy on getting your new listing up, making sure supplies are ready and really trying to figure out how your rental model is going to be better than the previous owners.