. = $5510% MGT fee = $110Mortgage = $253, 20 year amortization @ 5% Taxes $116 per moInsurance $75 per mo total = $719 per mo2% rule = 2.20%Capex = 15%CoC = 33% (turn key, est rehab to be $1000-1500 - new appliances, needs a few new doors) , $2000 closing costs, $10,000 down payment) The duplex does only have 1 furnace and 1 water heaterMonthly cash flow = $381 Am I missing anything? 

I have American Home Shield, and when my tenants HVAC unit went out, I only had to pay a service fee of $75 for the whole unit to be replaced.

In these cases, the ownership is split, you have "fee simple ownership", and they have "equitable ownership", which is what you quoted from the state law. 

i.e. area's, number of bedrooms etc.Estate agents wont be too forthcoming with introduction fees but an off market source of property should be able to reward you.

@Robert FreebornFirst year:Real Estate Course: $420 (Rockwell), there are cheaper schools out there.Written Test: $125Finger Prints: $30Realtor's Union dues: $620 (Optional depending on Brokerage)NWMLS dues: $480Supra: $75 activation + $15 a month = $255Office fees: $65 a month or $780 (Will vary depending on Brokerage and Model)Total: $2,710 Additional Cost:Signs: This will vary depending on Brokerage and if you are on a team or notBusiness Cards: Depends on what you wantEvery two years after that you will have a certain amount of CE that you have to accomplish, but if you take advantage of free education hours put on by Title Companies and other outlets, you can reduce your cost. *** Fact ***If you sell one house a year, it pays for itself...

And that's great because a lot of the local governments of the littler cities are really responsive.In Bedford (25 minutes from downton CLE), the city charges a minimum of $50 a month per unit.

Guru wants to charge me $5k for acquiring the property (bidding)Guru wants to charge me $10k for managing the rehab and using he software to find the golden nugget properties)Plus the auction site charges a 10% buyers premium which I would also paySo overall guru wants $15k each ($30K for both buy/holds) to buy and manage the rehab remotely.

Sure he charges, but you will know exactly what you need to know.

if you decide to go ahead I would suggest doing what I did I charged One year upfront and the lease was with the parents of the occupants I had theor security numbers and they were personally responsible for any damages At no limitI first went to a real estate attorney and had him write up he lease to make sure it was all legalWorked perfectly when a group of them did nearly $10,000 worth of damages Mommy and daddy paid up within days of them leaving at the end of the school year. 

I bought it all cash, and below you'll see the details:List Price: $60,000Purchase Price: $51,500Wholesale fee: $4,000Closing costs: $1,083Gross Rent/Month: $300Lease term: 10 yearsCoC Return: 6.4%Again, not the most attractive numbers, but the tradeoff is that the property management company will deal with tenants and maintenance, and I'll have constant flow of cash for the next 10 years.