Operating expenses =1,698.              

A home without an operable/sufficient heat source in the winter is considered uninhabitable. 

So....I started telling my family that my hubby and I are moving from CA to MI to start investing in real estate while operating our business remotely and heard so much negativity.

Monthly income from rent: $2,100Mortgage payment (20% down), taxes and insurance $1,210Vacancies 10%: $210 per monthManagement fee 10% $210Total Expenses $1,630Net operating income: $470 per monthA few things I would love feedback on: What am I missing in my analysis (how much % to put aside for repairs each month etc.)?

Keep your standard operating procedures in place and treat every rental situation the same.

If you do go further and get your license you would have to operate under a broker for at least 2 years before you could get your broker's license and be completely solo.

Yes, the objective of the trust usually includes avoiding probate, however in CA, disputes concerning trusts operationally or title are argued in probate court. 

So I am self employed as a consultant in a business other than real estate (I also have some rental properties that I own and operate but I don't believe they are relevant to this question).  

After construction, which I had estimated at 200-250k, it would have three 1 bed room apts, two 2 bed room apts, one 3 bed room apts and a coin operated laundry for the tenants.

Hey Everyone, So, question, as I do some due diligence on a 26-unit deal in Cincinnatithat isn't likely to go anywhere... for the following reason- the property is being murdered by its operating expenses (36% of it's GROSS operating income goes to paying for utilites).