I will likely be financing this, which is why I need to make sure it covers the carrying costs plus some. 

Any time you are next to a commercial business it can have an effect on residential properties.

Holding costs are alot on hard money loans. 

The cost of entry is low, and cash flow is high.You can find distressed off-market duplexes under 120k and SFH under 80k in B to C-class areas.

Hopefully you have a contract and can follow the terms of the contract. get an attorney, give them notice they are behind schedule and place them in default. you need to terminate them the proper way to make sure they do not come back after you for additional costs.

They didn't end up getting the property after the research because the cost wasn't worth it at the time.Call the code enforcement guy when he's in the office or actually walk into his office when you know he's there.

It effects every aspect of the property and performance- the type of loans and insurance you need will change if you don't hold the property in your personal name. 

We have a decent amount of savings, at least enough for a down payment and closing costs on our next home, but the buying power just seems so limited in our area. 

This allows for a 5% vacancy, and gives you the effective rent.Next, multiply the effective rent by .55.

I will assume the total cost basis for the property is $500,000.