I'm a new investor and would love to hear your opinion on my 1st rental property purchase attempt in Southern California.The good:1. 4/2/2 1600 sf SFH with big yard;2. flipped house so everything is new;3. comps with smaller square footage or not so good condition are all over $100k (ARV is around $120k-130k), and seller countered for $75k;4. it can rent for $1000/month;5. it's a relatively safe and quiet area.The bad: 1. vacancy rate is like 20%-30% in average for that area because it's rural and has lots of rental properties;2. roof is in very bad shape and will need to be replaced in a year or 2, which will cost about $5000-$8000;3. no dishwasher, will cost about $1000-$1500 to alter kitchen cabinets and add dishwasher;4. only has vinyl siding, not a good choice for high heat area and will stretch and sag, cost $5000+ to replace with stucco;5. no separate garage door connecting main house, will cost about $1000 to add it;6. house is about 2.5 hours away from where I live;7. almost no appreciation.Expenses: property tax: $1541insurance: $570property management: 10%maintenance: 5%tenant replacement: one month rentI understand how hard it is to find cash flow properties in SoCal, so I'm struggling on whether to proceed with this deal even though cash flow is only about $100/month, not to mention cash on cash ROI is less than 5% considering all the capital expenses in the near future.I welcome any input.  

She covers water they all cover their own heating and electrical.

Don't know what grows in Florida heat but you may.

I don't know the law in your area but I find it hard to believe I could simply by buy a house with no heat, plumbing or doors and rent it out and put in the lease it's the tenants probelem.  

. - wanting to use gas heat.    

As weird as it sounds, the darker color can absorb more heat from the sun.  

If it is a heat pump, the tenant may have put the thermostat in emergency heat instead of heat.

I think I have just about everything captured, but being new at this I'm not sure and am looking for some feedback.For expenses, I have the following broken down by month:InsuranceMortgageAccountant fees (for taxes)Cap ex (5% of monthly rents)Electricity (tenants mostly pay, but if there's a vacancy I pay during that time - I've budgeted $240 a unit per year, being really conservative)Specific fees to the town I'm looking in (storm water, unit registration, etc.)LandscapingLegal (trying to go with the "family office" that reviews leases, management agreements, etc. to make sure everything is up-to-date)Maintenance (electrical and plumbing - have this as 3% of gross monthly rents)Management fee (10%)Propane/heating oil (tenant pays primarily, but if there's a vacancy in the winter...)Property taxSnow removal/shovelingVacancy rate (5%)WaterI'd really appreciate thoughts on what I may be missing and whether I'm not budgeting enough for expenses like maintenance or cap ex.

In the over-heated Vancouver and Toronto housing markets, the largest portion of recent foreign investment has been coming from Asia.  

Some items, like painting, may be DIY which could lower labor costs, but the climate is hard on even minor building flaws, so rot or mold (from uneven heating or insulation or ventilation) can be common costly issues that require more labor and materials.Third, add in that we are looking at some budget uncertainty near term from oil prices (with large state budget reductions in spending, much of which cyles and flows through Anchorage)..