You can break those up by square footage. 

@Aaron Mayo All good info, I am going to send you a PM to break some numbers down for you today

It was winterized earlier this year, and now there's a pipe hanging, but it's a clean break which is weird.I was told that no bank would finance this.

Honestly if there lease says $50/month for 12 months then he can't remove it without breaking the lease.

I'm going to end up breaking even on this house (i.e. zero expense or profit), and still I don't regret it because I get to use it as education on pitfalls I didn't know to watch for.Take the plunge.

I'm frequently able to re-rent with no break in between tenants.

For every 1 landlord trying to do it right you can bet there is 1 that doesn't' care, just putting a body in.  

Hey @Caleb Reits - I highly recommend still mentioning Grand Rapids in your title and in the body of your post.

Currently the rent covers the payments on House 1 and it is close to break even from a tax perspective. 

Depending on the market ideally the property breaks even or provides a good COC return.