There is some type of gray line here which I'm toying with but, basically, it means that it needs to have running water, electricity, cabinets, sinks, shower, toilet.

Jason, A real estate market that just suffered a major hurricane is not your standard, run-of-the-mill stable market.  

Numbers are as follows:Purchase price - $185,000Rental income - $1,850 ($750, $750, $350)Insurance - $109/MoTaxes - $209/moCap ex - $185/moUtilities - $200moMaintenance- $185/ MoI feel confident the rents could go up to a total of $2350/Mo but current leases do not run out for another 6 months.

Based on the research I've done I was under the impression that the PM does run the show as you mentioned.

From running a cash flow calculator,  it shows me that $189,000 financed would be around the breakeven point. 

The buyer's agents work their asses off, running buyers around to look at dozens of homes, put in offers that may or may not get accepted, and so on.

If water is an issue you can set something up by running a hose from a neighbor to your main water supply that comes into the house if others have water.

Account Closed - so much of the question about tenants is going to be dependent on the class of property you are buying...Vacancies - I run about 7-8%City - if you have a code violation they give you plenty of opportunities to fix.

Next thing I knew we were off and running.

Any other good ways to start out I don't have built up capital and I'm working on fixing my credit to have more options in regards to that in the long run