You put your friend in a rough spot as I can only imagine that your friend was well aware that your girlfriend and her mom were living there.

Also, your utilities shouldn't be factored when you move out, so in terms of 2 years, you'll break a little more than even.740/month = 8880/year1st year = -4440Down Payment = -6300Total = -10,7402nd+ year = 8880/yearYou should be positive in the 3rd year 1st Qtr overall for your investment minus major catastrophes, exes, axes and aliens, should be good to go...at least on this investment providing your numbers are spot on.What year do you plan to refi?

Beware - rehab costs need to be spot on, ARV needs to be spot on.

@Mike CuradossiThis is one of those spots I think it's worth a couple bucks to find the best landlord tenant attorney in the neighborhood and get his/her opinion.

I am working on my commercial loan presentation and everything in it was spot-on.Ken

It might be reasonable to allow them to put in a parking spot - but you aren't required to pay for the costs involved. 

I don't want this to be a limitation to me; I know that there will be moments in my investing future where I will have to think on my toes and make good decisions on the spot.

On the offer it asks if it's a cash deal or financed. what do I write in that spot if I'm wholesaling the property to another investor?

The area is kind of a hot spot for investors and end buyers right now so you'll find houses that have recently sold for as low as 6k and as high as 200k.

Usually you will get your failures in elbows.You might only have a few spots that need to be replaced.You can just shut all valves off.