So about $16,450 annually (very minimal operating expenses outside of these listed and last year none.

I measure my rentals based on my annual ROI.annual net cash flow + market appreciation + tax depreciation + debt reduction (paid by the tenant) divide by my total investment

Also, when the annual inspection was done, I failed due to some floor damages caused by the tenant.

Pro's - receive high interest and money secured my the real estate at a deep discount.Con's - borrower defaultingI would think if the borrower declared bankruptcy you would already have a reverse quit claim deed in place to take back the home, your in the first position lien on the property. 3%-5% loan origination fee and 12% - 18% annualized interest.

There have also been some threats by some local companies to move the Outdoor Retailer Show, which has been advertised as bringing in 500 million dollars into the local economy, but that seems high and is probably a total rather than annual figure.

Things can kind of suck for those 18 months, but definitely worth it in the long run - $20,000 at 3% (2% annualized).  

Received an annual escrow account disclosure statement for my home which I just purchased 7 months ago.

Real estate taxes are $2500 annually.

That's an annualized return on investment of 33.7%.

Looks like your rents are ranging about $$600-650 from your annual rent total.