And if the loan is in a state where a servicing licence is required, and you don't have one, could end up in hot water if the borrower files a complaint with either of the the above and/or the attorney general. 

If hey call and say the water heater burst at a rental and it’s $985.

There needs to be a 24 hour "water test".

Need:rental incomemortgage paymentsmonthly principal paymentexpenses, property taxes, repairs, insurance, water, electric, etc.ability to increase rents every year.amount paidbalance on loanscurrent valuehow much have they appreciated in valueWhat are 8-unit streams?

Total expenses$15,844 Mortgage$3,055 Taxes$2,542 Insurance$1,300 Variable expenses$7,897 Fixed expenses$1,050 Fixed expenses$1,050 Water & sewer$800 garbage$250 Variable expenses$7,897 Vacancy$1,755 Maintenance$2,632 CapEx$1,755 Management fees$1,755Monthly cash flow: $1,900 /moIncome: $18,600 /moExpenses: $16,699 /moCoC ROI: 10.05%Any insight would be greatly appreciated.

Personally I would have been tempted to try to sell some of the items to help recoup losses or donate them, but this could have muddied the water, once they are in the trash there isn't much the tenant can do.  

New floors, new windows, exterior window trim, fascia, soffit and porch rail paint, new counter tops, kitchen backsplash, new light fixtures, interior paint, new HVAC system, new attic insulation, new water heater, washer and dryer, and finished out the lower bonus room with sheetrock and texture.

Water is on average another $100, electric $100, heat about $200 in the winter months , and in the other months it's around $50 so I take the other $150 toward cap ex, so all and all the expenses I account for are at $4450 and I get $4550 from rent , but it's going up to $4700 starting January .

Looking at beach/sun/warm water for the kids- and the opportunity to look at some STR investment areas for myself. 

Mgmt/Real Estate companies local to the area that specialize in investment properties - Rent to Avg Price ratio seems to be in our favor for many of the properties we've seen listed.Cons:- Relatively high taxes- POS Requirements (I've seen properties with dozens of listed "POS" items that need to be fixed)- Water bill is typically paid by landlord (although I've seen some on here talk about PM companies passing that bill to the tenants lately)Given our criteria, is there anyone here that would recommend we scrap Cleveland as our entry point for RE Investing?