It's not hard- install aerators in sinks which don't have them(and install Water Sense faucets when replacing faucets, they'll use about 15% less water than regular faucets.)Then use low-flow shower heads(go for 1.75 gpm, anything lower will cause unhappy residents.)

I found a company that has construction, management and brokerage under 1 roof and operates in Indy, Charlotte and Kansas City..These markets have population >1 Million with consistent growth; Good jobs and low unemployment, inexpensive houses in working class neighborhoods that create returns of at least the 1% rule and are cities with excellent credit ratings allowing them to invest back into the city.My first purchases 5 years ago included visiting the company and interviewing the employees for the systems they use, inspecting the houses and then reviewing the monthly reports once the purchases were made.

Plus tenants might move at an accelerated pace because of the increases and this could throw your occupancy pretty low and even into negative cash flow. 

Now, if I'm doing my math right, even taking the high-end estimate of the rehab costs and the low-end ARV estimate, you've still got about $105k of potential profit/equity in the deal. 

The rent seems low for a 4bedroom unit. 

Actually I consider $700 a month low rent.

@Seth Deitchman Those are great goals:  Through Tax deed auctions you can certainly attain a profitable portfolio of flips/rentals if your Purchase Price is low enough to account for the rehab usually associated with Tax Deeds (as well as the other factors of course: neighborhood, market, etc). 

But, no matter how low I put the purchase price of the house in this report I still end up upside down with expenses.  

We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland).

I am just purchasing a SFH to start off, the price point is low enough that it won’t break me in a worse case scenario.