@Will RugeleyI am not sure how many properties you like to manage but if it is not a lot, you can totally manage by yourself using property management software or combination of accounting softwares, tenant screening, rent payment software.If you would not like to bother property management aspect of real estate investment, you can always look for property managers in your area.

This deal literally has every single one of the largest red flags possible, all combined into one.

Great, you have the text I sent you that the dryer repair guy is coming by today... 

@Brandon Cravens @Jack Martin - many thanks for the info. i'll check out the county's website.in terms of estimating property taxes, would that be a combination of mill rate, tax rate and assessed value?

Realistic Values for them all combined are $1.523M and we owe $1.203M in mortgages to one bank.

Realistic Values for them all combined are $1.523M and we owe $1.203M in mortgages to one bank.

Typically, this is done by taking the cardboard tube from a roll of toilet paper or paper towels (or an empty water bottle with the bottom cut out) and shoving a bunch of crumpled dryer sheets inside.

Washer / Dryer are the highest users appliances in a rental.

I would not have put this in my business plan, but with the recent dip in interest rates combined with a suddenly lower insurance policy I saw the opportunity to pull some cash off the table without dramatically changing my PITI. 

The sellers combined monthly payment (duplex +personal loan) is $1300 and so if she carries the note, my payments need to be at least $1300 because remember, her whole point in selling is to not have to worry about her debt.