Assumptions would be that your local area doesn't have a sudden decline in rental prices or pool of available tenants.

The assumption is the property value has not changed from the purchase price + the cost of repairs.

@Chris Lopez , your assumption is correct.

Peter Kim I think you're getting some solid thoughts and replies on this post, especially from Chris Mason about future assumptions.

If your rent is past due and I have been unable to contact you for 10 days, by phone, email, at your residence, neighbors haven't seen you there, I post a nice 3 day assumption of abandonment notice stating that I will take possession of the property in 3 days under our lease agreement.

Based on my numbers, I'll still have to pay about $300 month after everything is said and done with the assumption that the upstairs is rented.

Hi Rachel,I ran your numbers and got a cashflow of $196.My assumptions for repairs is higher (10% of rent) and I assume the same for property management (10% of rent).HOA covers you for CAPEX.I'm also not getting the same number for mortgage, what rate and amortization are you assuming?

Just make sure you download you landlord tenant laws for your state.Make sure copies of  all leases, addendum's, application forms, security deposits w interest , Assignment and Assumption of leases is set for closing.. 

so it's a reasonable assumption that i would raise them, but even at current rent it looks like a great deal to me.  

The VA loan is an even better product than most people realize, but there are a LOT of stipulations and most loan officers (a) don't know about the even better benefits like: multiple VA loans, joint VA loans, VA loan assumptions (including the super-low interest rates), VA loan eligibility for surviving spouses, multi-family loans, the VA simultaneous purchase and renovation  loan , etc and (b) those troublesome stipulations that get buyers in trouble mid-way through the closing.