That’s why early lease termination clauses should include language that the tenant and landlord agree this is a reasonable estimate of the actual cost the landlord may incur due to early lease termination.  

Minus the 6% commission and I estimate getting $19,204 at closing.Money into the deal $23,474.

Property management screened three vendors and Estimate is at 3200.

I recommend adding an expense for capital expenditures in your estimates until you get a reserve set aside.The real questions are... how much money do you want to cashflow?

It is about 1 hour and 15 minutes from where I live.Purchase Price:  $139,900Closing Costs:  $6,300 (I went with 4.5% here but I don't know the exact number)Interest Rate:  4.5% (Estimating)Term: 30 yearsLoan Amount: $104,925 (25% - I checked my local bank and they told me they required 25%, but I will shop around)Rental Income Total:  $1,650 (Based on BP Insights, rents are on the low end and could probably be increased)Property Taxes:  $3,880Insurance:  $1,000/yr (Overestimating.  

You should also call the county assessors office to get an estimate for the tax increase when you purchase the property.

Going with a value add property certainly seems like the most promising route, but I know nothing about estimating the price of a rehab or an after repair value, so I have a lot to learn about that before I would feel ready to go that route.

I did see that the facts show 3-4million Americans are delinquent on their mortgages and its estimated that 30-40 million may get evicted. 

Every single estimate is less than 100% cost/value return.

This new unit with a similar floor plan and specs just became available and is going for $2500 which is way below it's zillow rent estimate.