First of all these things are gross and will make a nest in any available spot.Its important to clear out the nest and all the nasty gunk that goes with it.

(at least for now, since I only have one SFR to deal with).Most companies I have come across offer the full package for around 8% of the gross rent which is higher than I'm willing to part with.

If landlord pays utility (especially water, gas, heat) go 60% costs.So for example if you had 100,000 gross income X .50 = 50,000 NOI and if 60% costs go .40 = 40,000 NOIYou take NOI divided by the sales price to get the cap rate.40,000 NOI / 340,000 purchase = 12 capThis is a just a general guideline and much more goes into this.

Take a look on here about the "50% rule" which says your expenses will generally be about 50% of your gross rents (vacancy, management, taxes, insurance, repairs, reserves).

We are brutalized in California.That is a good point that I was looking a Gross, not net.Though the idea was for that to be the cash flow of the places free and clear so the only real deduction is depreciation which depending on how long it takes to pay them off might go away in short order as well.If they went with the aggressive paydown then there would be a lot of that left so would change the equation a bit.

The bathtub and shower are truly gross and they clearly didn't make any effort to clean them before they left.

I know the area its in its obviously not the best for the orlando area mostly lower income. but at 2500 a month gross and a possible mortgage under 500 would you take the risk?

Whenever analyzing a deal you should also add these expenses from the gross rent 10% Repairs/maintenance 8% Vacancy 5% cap ex Insurance Watch this video by @brandon turner it will help you better understand how to analyze the deal https://www.youtube.com/watch?

The "50% rule" says that 50% of gross rents will go to expenses (water, trash, taxes, insurance, property management, maintenance, CPA, attorney, evictions, tenant damage, lawn mowing, snow removal, etc.), vacancy, and capital (roofs, boilers, furnances, etc.)

Now lets say you put in 15k to rehab and plan on renting it for 1,200 a month gross.