We are being very diligent with our screening and background checks and are not wavering from our minimum requirements.

*clean up screened back porch & "shop" exterior...

You have got to have a criteria for the kind of properties you want to purchase and then stick with your criteria.Also, how I would calculate my numbers a little different:Gross Rent = 900- 50% = (450)NOI = 450- HOA = (220)- P&I = (262.61)Net Income/(Loss) = (32.61)Keep in mind 50% is just a rule of thumb to screen the properties that aren't worth wasting your time on.

I know there is no appreciation and tenants could be more challenging, but since I will own it cash I can screen for months and not have nearly the losses as I would with a mortgaged home.

Says you have to have an account to login so can't see the property.Sounds like you just have a tired landlord.Rentals can wear you down for sure especially if you don't have systems in place and do not screen tenants properly.With a seller just pay on what it is doing today and where rents are trending if downward.

Pressure wash deck, house and wheelchair rampPaint deck, wheelchair ramp and wood floor of screened in front porchReplace screen on screen door (front porch)Replace 2nd screen door (front porch)Replace 2 ceiling fansPossibly paint cabinets (depending on how they look after cleaning)Replace vinyl flooring in guest bath (planning to use vinyl tile)Replace guest bath vanity topPossibly replace vinyl flooring in master bath (vinyl tile)The good news:Furnace, AC unit and hot water heater are all relatively new (~4 years old).Deck is solidBrushed nickel fixtures from the previous rehab are still in great shape.Refrigerator appears to be in working condition, as is over-the-range microwave.  

Who knows, this may not be possible, though wondering if there is an online resource or dialog available to help vet potential tenants though direct landlord experience reporting.  For example, if you have a tenant pr...

I agree to Let them go , screen and choose your own tenants .

Before we invest do the have to smell blood?

How can I check backgrounds and screen tenants to make sure they are a good fit?