@Jon PitcherI may be biased but you should check with independent agent depending on your coverage and where the property is located that might be high.

That is reflected on the Pro Forma below.2314-2316 Blackwood RdLittle Rock, AR 72207Great area North of UAMSPercentagePercentageSales price$105,000.00asking price 140,000Down payment$21,000.0020%0.2Loan$84,000.00Interest rate5%Term20Closing costs$2,579.85%2.4570.02457Rehab costs10,000RENTSmonthlyannuallyUnit amountannuallytotal monthly rent incomeUnits 2 beds$750.00$9,000.002$18,000.00$1,500.00low end of estimated rent from local property manager$0.00$0.00$0.00Effective gross income$750.002$18,000.00$1,500.00EXPENSESmonthlyanuallypercentagepercentageTaxes$122.50$1,470.001.40%0.014derived from tax records, seems high but trying to use a conservative estimate.Property Ins$77.26$927.12$38.63per doorQuote from Mcghee insuranceMaintanance$120.00$1,440.008%0.08Property Management$150.00$1,800.0010%0.1HOA$0.00$0.00Utilities garbage, water$0.00$0.00$0.00per doorMortgage payment$557.74$6,692.88using 5.3% amortorized over 20 years.Vacancy$120.00$1,440.008%0.08TOTAL EXPENSES$1,147.50$13,770.00Costs up front$33,579.85Expenses$13,770.00Rents$18,000.00Cash Flow anually$4,230.0012.60% Cash on cash returnSo know we are 10 months out from this initial purchase and we have learned a ton.The good: -Property is fully rented at our projected rent and monthly expenses are in line with projections except:--Property taxes are a bit higher because in Arkansas the county does an independent assessment and does not use purchase price.

My most recent purchase was in Independence. 

Looks like cleaning fees are standard these days for the most part.Maybe after I got the ball rolling I could manage bookings on my own and have an independent cleaning service.

Hey Allen, I see you're in Independence.  

I am including a clause in my Independent Contractor Agreement that mandates my General Contractor to provide worker's comp to all of his employees and was just curious as to what the legal ramifications would be if one of his employees was hurt and was not covered?

Your credit score or specifically the one that Lenders use is the FICO which is an independent entity that uses its in-house algorithm to determine your credit score using the information obtained from each credit bureau.

The last year or so I have been researching financial independence and that lead me to real estate investing and BP.

I have some experience with managing rentals, but I want to start building my own portfolio for retirement and financial independence.

We are usually considered independent contractors, very rarely employees (unless he's being offered a salaried position).