Purchase Price 175000 Currently Value   186000 Equity   45600     Mortgage, Insurance, Taxes   1165 HOA   120 Maintenance 10% 145 Vacancies 10% 145 Management 7% 100 Tenant Placement 8% 121 Total Costs   1796 Rent Price   1450 Equity   200     Monthly Cash Flow -346 Yearly Cash Flow -4150     Monthly Cash + Equity -146 Yearly Cash + Equity -1750Thanks for all comments in advance! 

These are the numbers from the mortgage company:Closing Costs: $8,679.11 (half of this is lender points for a lower interest rate)Prepaid/Escrows: $2,211.79Payoff: $130,189 (this is the loan I took out to purchase the home initially before renovating, I put down $23,025 which was 15%)Total funds to Close: $141,079.90Loan amount (75% LTV based on $240,000 appraisal): $180,000Total Due at closing: $38,920.10Help!

I found this deal online during the shadow inventory dump years.

I deeply appreciate any feedback as this totally new for me - I’m just trying to quick build something to scape the rental trap I’m in .

If you feel the need, just increase total deposit and note on your screening standards that smokers must have higher security deposit.

Take a look at the many OMs floating around.Also take a look at CREPro to create a nice brochure (online or PDF)

Some tenants would be late on the water bill for a couple month and receive shutoff notice and one of them is 3 month late now and I still don't see shut off notice when I check online.

@Anthony Palmiotto , what is the total purchase price and total Capex needed?

View report*This link comes directly from our calculators, based on information input by the member who posted.Bigger Pockets Community,I am a total newbie and beginning my journey to make my first purchase within the next 6 months. 

Dorce I totally agree!