The 1135 sq ft brick house needs $10K repairs that would include but not be limited to new shingles and a new AC and maybe kitchen appliances.

I purchased the rental in 2009 when i was stationed in that area and due to the condition of it i got a really good deal on it did most of the repairs myself over time.....Before the fire i was paying $280/month mortgage and $225/month hoa.

I have lost tens of thousands of dollars over the last 15 years, of renters beating me out of rent, causing damage to my homes,  and including my holding costs, in addition to repair and upgrade costs.  

@Christopher Dorsey So you need $5,200 to bring the mortgage current plus the repairs.

You can buy fixer uppers and have real equity once repairs are complete.

I also have $1000 in minor repairs to do.

Just a heads up to all my BP colleagues (Quick Tip!)

If you don't have atleast an additional $10K saved up you may end up in a tight spot financially if you have an unexpected repair. 

Anyone have a foundation specialist that they would recommend in Cincinnati?

Loan amount $110,400Gross rent: $1350 including $675 from a tenant and $675 from me. minus Mortgage $841 PITI Repairs $100 ($50 per unit)Cap Ex $100 ($50 per unit)Vacancy $65 (roughly 5% of the rent)_______________________________________$1106 in expenses $1350 - $1106 = $244 cash flow