My ground floor tenant had minor water damage after Ida ripped through NY on September 1st.

Financing: Conventional 30yr fixed at 4.75%Purchase price: 215,000Down Payment: 43,000Loan Amount 172,000Closing costs: 3,000Total outlay: 46,000Income:Monthly rental income:  (700+700) = 1400Monthly expenses (please critique my % allocations, based off BP calculator recommendations):Mortgage: 897.23Vacancy 5%Prop Mgmt: 8%Cap Ex 8%Repairs/Maint: 8%Water $60/monthProp Tax: $125/monthInsurance: $77/monthResults:Fails 1% rule (Needs 2k in rent or 140k purchase price)Fails 50% ruleCash Flow -$165CoC Return -4.3%https://www.biggerpockets.com/...Bad deal as is, huh? 

Post all your numbers including your down payment, or will you pay cash.It sounds like a super great deal for a person who knows how to do the project with the least amount of time and hassle, but the major problem may be the rents are to low to cover future expenses like the cost to clean and make repairs when tenants move, for water heaters, furnaces and repairs, roof repairs, etc.

It had a water leak after purchase, and so we remodeled 70% of entire home.

Are you paying the utilities, if so install energy efficient appliances/LED/low flow water spiciest.

One I recently bought.....I couldn't find the meters for the gas or the water.

Chartering into unfamiliar waters, I am hoping to get some help in a few areas for my first househack.

If you don't have something structured where you can keep everyone is a seat for 30 to 45 minutes then you may as well just smoke some joints, drink beer and whiskey and have a wild party nobody will forget.One meeting could be for flipping, single family investing, multi-family investing, the best ways to find properties, how to do rehabbing, how to deal with contractors, how to do the math for single family and multi-family investing before and after the purchase, financing, dealing with commercial investments, how to do accounting and reduce taxes, how to streamline your entire operation, what software to use and how to use it and a lot more.Most meetings have only coffee, water and cookies for people to munch on and not much more.

The mobile trucks heat water to over 200 degrees and produce steam for sanitizing.

"I have insurance for this"  "as a whole when it rains the property retains water leaving the backyard squishy for a few days and the village wont allow for any regrading of the property to fix the issue"2.