I was a little surprised how much the operating costs really are when I try and project what I'll need in 10 years to not have to pay out of pocket for big expenses plus the basic outflow (lawn, lic fees, termite inspections, insurance, taxes...)Here's my question, the property nets 1500 per month after I pull everything out.

If you have to use hard money to buy the place, plus utilities, this could be $1000/month out of your pocket till the project is finished.There are so many moving parts to this game, I keep thinking of other small (or large) details. 

Also are those rent numbers current or projected post-rehab?

Looking to get my first flip project going in my hometown of Yuba City, CA and am having some trouble finding a GC to manage the rehab.

This number must be lower than #7 or walk away.9 - Use above numbers to project what the maximum Purchase Price can be for a Rental and/or a Flip10 - Compare them to the actual numbers in the market you are analyzing. 

We were thrilled to find a tenant in California who was willing to sign a long term lease due to a project he was working on.

Other than the massive paperwork you might not know where you stand for 60 days. 

I know there have been numerous recent apartment projects completed in the past 6-7 years which likely contributes to the available units.

Currently, I have a few smaller projects on a couple of houses: carpeting/tiling floors, painting walls that contain LED paint, installing A/C and heating system, installing light fixtures, installing appliances, making sure electrical wiring is safe, installing recessed lighting, insulating/waterproofing medium size room in the basement.

Just trying to make a decision prior to starting the project.