It’s a single family 4 bed home with the intent to rent out the additional rooms.

Beds and baths per unit?

Sfh, 4 bed, 1.5 baths (and plumbing for another in the basement), brick home and in a decent C neighborhood.

Here is a short list of unexpected costs that can reduce CF, or easily eliminate it altogether for years especially if the margins are thin and the property only kicks off a few hundred/mo (all of these are actual issues I've dealt with in the past few years that effected CF):  Annual Backflow Prevention Assembly Tests/Code changes requiring additional backflow prevention devices“Churn”: high vacancy and turnover rate/ tenant drama/ evictions/ turnover expensesBad PMBad tenantsHOA fee increases/special assessments (condo/townhomes especially but also MF/commercial complexes)Trash hauling/property cleanup—ghetto properties are trash magnetsCrimeTheftTenant DeathMileageToolsTenant placement: screening charges, advertising, professional photos, travel, 3D tours, etc.Property tax increase based on sales price you just paidInsurance rate increase based on a claim you made or a high number of claims in the area Trees-- maintaining trees costs more money than many people realizeAnnual Sewer ScopeAttorney feesTravel costsPest Control—We recently had the unexpected pleasure of evicting some bed bugs from a newly acquired 8 unit building.

I purchased a 2 bed/2 bath condo in my area with the intent to live in it for a bit before ultimately renting it out as my first investment property.

There's 2 units that are 2 bed 1 bath, those can rent for about $1800 each.

We found a very small house (2 bed 1 bath) house for $47,000.

It's a 3 bed 2.5 bath town home.

Purchase price: $130,000 Cash invested: $35,000 1750 Square foot 3 bed/2 bath home located in a C neighborhood.

Have you checked with the city about converting the units to 3-bed?