If the rent increase goes as planned, second year cash flow increases by roughly $125 (after accounting for the increased vacancy and management allowances).

have you considered putting money into a savings account every month until you have saved up enough for a down payment?

Would you be interested in a way to reduce ______ cost to the effect of lowering the minimum amount of rent you can charge, that won't change how much money gets to your bank account each month?"

@Demetrius Cooper Best advice for such a short time frame, I'd open a checking account that provides a high yield.

In short, I expect expenses to be at least a little less this year, but will need at least 3 years of data to have a better idea if this was a high, low, or typical year for expenses.As far as capex, we had to replace a stove during the year that's include in our expense number here, but I'm not sure if our accountant will capitalize that or not.

Account Closed You may not know an issue has come up until you are at the closing table. 

Agree with Account Closed Are you planning on doing the rehab yourself? 

Account Closed just gave you some great advice!

Limited monthly cash flow, but maintain good rate of principle reduction at 15K and say appreciation of property at 2% a year.Shortly after joining the Army I was interested in using both retirement accounts (couldn't contribute to TSP then) and real estate to prepare for the future. 

They don't have access to the interior of a property, so there is quite a lot that they do not and cannot take in to account.