@Jody Vilcheck you're going to have to adjust for property tax when you buy it.

As I mature I'm open to do this anywhere in the country really, but want to start at home, build a foundation, and adjust as I learn.

The interest rate adjusts after 5 years and is amortized at 15 years.

I’ll keep making adjustments and looking at this. 

Minor adjustments to that plan as it makes sense.

@Joseph Sanchez I would adjust your numbers with the interest rate.

I was figuring a lower insurance cost than what you have so thanks for sharing that, I'll adjust.

You still won’t avoid the expense, but the earlier you catch it, the better chance you have in making other adjustments to reduce the impact on the total budget.These are two which I always had trouble with and now spare a small expense upfront to help me determine if I need to make some changes to my budget.  

If the doors were adjusted to a crooked foundation, you might need to readjust or even buy new doors. $$$5.

Now how much of that passive loss, if any, can be used to offset other income will depend on A) if they are a 'real estate professional' B) if their not a REP if they have an AGI, adjusted gross income of less than $150,000 (which is pretty unlikely in our scenario if they invested $100K)That passive loss will be carried forward into future tax years, if it is not utilized in the current year.