Was it an out-of-pocket 10%, based on purchase price + repairs, or repairs only?

Don't fall for any no money down snake oil sales pitches.

Super user friendly and web based :)

I have a duplex in San Jose, recently we rebuilt a 2 car garage in the old garage base which I was not aware a permit is needed.

I'm also brand new to this and based in Columbus. 

@Jake Glassman and @Wendy BergerMy partner is based out of Santa Monica and could help you.

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?

Also, just based on the area, I think for the state it is in, it is overpriced.  

If the fee is 4% of base rents collected and 200,000 is collected that is 8,000 a year.

These are the things you can identify while chatting about RE.In short, you figure out the numbers based on the market and what you can do.