Youor lending operation may avoid a Banking Division cease and desist order but if someone turned you in you'd be setup for a bit of trouble.Just do 3 per year using a LMLO, qualify to 43%, full doc, LMLO is supposed to get a 1003 loan app, but some are lazy and make you do that including getting all the doc.  

Some people love me on BP and others hate me for making the case to operate honest and fairly.

I am all about operating legally and with contracts prepared and approved by local attorneys.

Operating expenses =1,698.              

I don't recommend buying only to sell in a few year though, that's taking a gamble.

A home without an operable/sufficient heat source in the winter is considered uninhabitable. 

But you are still gambling on the criminal aspect if you can't find a resource from their country.

So....I started telling my family that my hubby and I are moving from CA to MI to start investing in real estate while operating our business remotely and heard so much negativity.

Monthly income from rent: $2,100Mortgage payment (20% down), taxes and insurance $1,210Vacancies 10%: $210 per monthManagement fee 10% $210Total Expenses $1,630Net operating income: $470 per monthA few things I would love feedback on: What am I missing in my analysis (how much % to put aside for repairs each month etc.)?

Keep your standard operating procedures in place and treat every rental situation the same.