In your example an additional 83k in cash on top of the down payment.

If payment is not made by grace period, say the 5th, landlord files on the 6th.

I had this REI master plan to, every few years for the next 15 years, save money for a down payment, get bank financing, and then buy an investment property.

Fast forward 2 years and guy hasn't improved his credit, mismanaged ALL the profit from the house , security deposits , almost messed up my credit (late payment) and a bunch of drama. 

All of my credit now is low balances, and on time payments.

 $66k left on the loan ($600 month payment with taxes & insurance).  

@Marvin Spears I have no idea what you're talking about with all the "all the previous payments....payments they would receive down the line" and have no idea why you think any of that matters, it doesn't.  

I'm just not sure yet if a 10-12K after taxes, closing costs and reinstating the payment is worth the risk. 

Here are the details:Asking price: $125,000Sq ft: 1,197 Bed/bath: 3/1.5Property tax: $725Insurance: $800Down payment: $10,000Calculated mortgage: $889Desired rent rate: $1,100Cash flow: +- $200If anyone could analyze the numbers and let me know what they think I would be so grateful!

I am currently using software called Lender Financing to keep up with the payments.