Is there anyway you could have the seller cover any of it?!

As soon as you make additional payments beyond loan interest (i.e. loan repayment, capital expenditures) then there is no guarantee you will have positive cashflow.So the quick rules of thumb for guaranteed positive cash flow are:cap rate is greater than interest rate (you've got this)the difference between cap rate and interest rate should be large enough to produce cashflow to cover loan repayment/amortization and capital expenditure plus some amount left over for the investor.if you're in a deal where you're financing with interest-only loan payment and there is no capital expenditures, then YES cap rate being higher than interest rate would very likely produce positive cash flow.Cheers...

I have felt like that seller-just make sure your bases are covered.

I mentioned to  them their renters insurance may cover the food .

So the way around it is to get a property manager, which costs you 10% of rents in fees, so you'll be covered under the PM's E&O insurance.

To be honest, it was more difficult than I expected and there was quite a bit of material on the test that was not covered in the class.

Title insurance would have covered that.I bought a property that was part of an estate in 1898, there were four heirs, but only three heirs singed the deed. 

Basically I have most of the bases covered in understanding what needs repaired and costs/risks associated with those repairs.

Raise your rates a buck to cover the costs!

Not sure any of my commercial liability insurance policies cover THAT situation.