Prices are also area specific , if you live in an area with a high cost of living , you will pay more . 

I-if it's "big expense", I get ahead of this issue by whipping out a receipt book (you can buy one at any store like Target, Wal-Mart, Staples, Office Depot, etc) and jot down the work that was performed, materials, hours, amount of people, other expenses, etc.

If you guys think there is some magic report you can read from past ownership that will tell how this property will perform for you, you are dead wrong.

Just because you don't call it "interest" doesn't mean it's an interest-free purchase.If they are incapable of getting financing through a bank, that indicates they are high-risk.

Do your due diligence but do not get stuck in analysis paralysis.Lastly, these online calculator are a good guesstimate but it is skewed with bad managers not effectively reaching the potential of a property So dig a little deeper into the high performers in the area to figure out what the rate should be and what they offer.

One other thing to add- I would highly suggest making a rental verification part of your process.

Good news is rates are starting to trend down and property values are still growing.The cash out can serve two puposes it can help pay off some high interest credit cards and be used for a down payment. 

If there is anyone on W2 income with a relatively high tax bracket, could you please tell me if you successfully reduced your taxes with your rental property investments?

If I could chime in to help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I dont have a very high monthly electricity bill.