If you would like to attempt to negotiate a return for the $654 you paid for the remaining part of your August rent, the early termination fee will apply because you will be attempting to receive a refund for money legally owed.

Doesn’t even pass the 1% rule and I can see as others stated your calculations are way off .

Originally, we'd planned to include him as an owner of the TIC (but not have him on the mortgage as we've already applied for it and gotten approved).

The problem I’m seeing with my area is that trying to apply the 2% rule seems nearly impossible.

I know that when you apply on these sites they want to know the rehab cost estimates a little bit about the property, on Patch of Land's site for instance they say they do an appraisal... 

What formula should be used or should I say is there a common rule for investing at that level for cash flow?

I would probably not consider a deal in Grays Harbor unless it would perform close to the 2% rule (probably at least 1.5%).

@Katon Pang  So sorry to hear of your tenant is not respectful of you, your rules, or your property. 

Interest on a heloc for a rental is deductible, with some ‘rules’.It’s difficult to get a heloc on an investment property.  

I go by the 50% rule number.This might be a better Flip than BRRRR deal.