Have you factored in start-up costs and accurate management cost? 

Yes it costs money, but yes it's worth it (assuming they're a great lawyer). 

We we're able to negotiate with the seller (OG owners daughter) to cover all the closing costs to essentially get the purchase price to where the judge wanted, but bring our out of pocket purchase closer to what we we're asking for.

It will cost about $600.I wonder if I have spent the money too soon.I am not an expert in pest control.What if the tenant left a door open or something, and a few rodents slipped in?

@Ariel GonzalezHey don’t despair.It’s a tough market out there.In most cases, seller pricing expectations are still out of line with the current cost of debt.I’m proud of you that you just didn’t buy something to buy something - that takes discipline.It’s important that your first deal is a success or at least not a train wreck.I’d encourage to start small finding a 6 to 10 unit building and buy that with a few friends.

The banks in USVI are VERY risk adverse resulting in major processing costs and restrictions that are costing us money. 

Total capital costs was approximately $40k.

My goal is to live in this first property for at least 12 months (but realistically a few years) and have a roommate in the second bedroom to help offset the net costs.

We are in a window where idle capital is an opportunity cost, so seeking interest income until the rates change again makes sense.The best place to start will be with your checkbook IRA provider.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.