(Utilities were rounded up on my part)The asking price is $115K (in a very small town, but the biggest town within a 50 mile radius).Monthly Rent                                          280010% Vacancy                                        -    280Gross Monthly Operating Income     252010% Property Management                   28010% Repairs Maintenance                      28010% CapEx Reserves                                280Property Taxes                                          280Property Insurance                                   200Heat                                                             270Electricity                                                    225Water                                                             75Monthly Operating Expenses              1890   Total Annual Operating Income           30240 Total Annual Operating Expenses     - 22680Annual Net Operating Income             7560Purchase Price                                    115000Cap Rate                                                6.57%25% Down Payment on Loan             28750Loan Amount                                        86250Closing Costs                                             300Length of Mortgage                             20 yrsAnnual Interest Rate                              5.0%Total Annual Debt Service                  6831Annual Cash Flow                                    729Monthly Cash Flow                                  $60Cash on Cash ROI                                   2.3%When I first saw a "6 unit apartment for only $115K" I thought it was a gold mine.

But, due to the way that the condo bylaws are written, and the fact that I carry insurance with the same insurance as the association, I had very little out of pocket expenses.

You can purchase an investment property in your name and protect yourself by putting an umbrella insurance policy in place.

. $700 month taxes-$120 insurance-$954mortgage - throws off $450 month..

Leaving me with $292 before CapEx, Insurance, Vacancy savings, etc...

I'm sure insurance is going to be just like insuring an RV. 

I was able to get Flood insurance before the change and I am grandfathered in at the lower rate.3) The internet is your friend. 

I am looking to make a spreadsheet that I can plug in Mortgage, Taxes, Insurance, Property Management costs etc. to see if the property would be good for a Buy and Hold investment.

I to be honest don't know if that price is ok my numbers work out great but I am a noob and could very well have numbers wrong.I know normal duplexes in the area sell for 30k less then this but most of them look like they are in need of updates pretty seriously. this looks like it would attract very nice tenants with proper screening granet counter tops excetera.So with me living in the studio I wrote the rents as 850 each so 1700 total my morgage would be around 619 Now taxes are absolutly atrocious in this area 486 ouch insurance I put as 1000 a year not sure if that would be accurate need help there.so about 560 total between the two.

I am going to require a renters insurance policy that I am a listed interest on.