I'm also speculating that the rents will go up over the next few years based on city's plans to add more transportation and other nearby developments to the area (but that's a bonus).

You could also set bonuses for hitting certain metrics with the investment.Often times I see investors not include and expense item for PM and try to self manage and then find out they do not want to do that.  

I want to strike a good balance between area's safety and ROI - should feel comfortable visiting without needing to looking over the shoulder or worry about high burglary rates  :) Good schools are a bonus too, but ROI trumps. 

Will you accept a bonus your job gives you even though bonuses are taxed at one the highest levels, around 42%???

A bonus would be someone in the Greenville area renting to section 8 would be total awesome.

It may not make sense as a flip, but the numbers work out for me because:it's close to work (DTLA)the neighborhood is very safeIt's easy to rent out rooms (close to Cal State LA, USC health science campus & DTLA)I'm only putting down 5% and the monthly expenses will be very lowIf it appreciates, that'll just be an added bonus.

If they are above and beyond the requirements, then include them in your marketing as a bonus feature.

Here are the numbers:List Price: $184,950Estimated P&I: $826.55/moEstimated PMI: $81.80/mo Taxes:$2617/yrHOA: $0 (there isn’t an HOA)Estimated Insurance: $1017.23/yr (will get quote from agent soon)Loan Type: FHADown Payment 3.5%Interest Rate: 3.75%Unit 1 (4 Bedroom) Rent: $1070/mo (currently leased until July 2016)Unit 2 (3 bedroom and bonus room) Estimated Rent: $1070/moEstimated Monthly Maintenance Expense:10%Estimated Monthly Vacancy Expense: 10%Estimated Monthly Capital Expense: 10%Estimated Monthly Property Management Fee: 0% (I’ll manage it)Estimated Rehab Costs: Less than $3000According to Rentometer.com, the rental rate of Unit 1 is $125/mo below the median rent of the area, and Unit 2 is at the median rent of the area.

Or just a bonus assuming I will have to change the carpets yearly anyway..Thanks.

There is no onsite laundry, laundromat nearby (depending on layout might be a huge value-add bonus--I expect this is the case for a couple units, 3 will never have laundry, maybe a common laundry solution, but I don't know).As far as I can tell the owners are nice/easy to work with, the realtor is the current PM and is ... not very transparent.