Purchase price: $177,000 Cash invested: $50,000 - Single-family home in a Residential area near the University of Rochester- Purchased flipped home without inspection, many costly hidden issues revealed after closing - Currently rented for $2,200.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

I am hoping the remodel doesn't cost me more than 25k.

This will help you to communicate with the tenant regarding maintenance requests, demands for service, handling maintenance and repairs during the tenancy, what the tenant may owe during the tenancy, handling security deposits and claims, etc. 4. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Not cost money each month.

Don't get false security of thinking your insurance and umbrella insurance will save you vs judgments.

Your local S8 Housing Commission should have an info sheet on their website that shows their deductions if landlord chooses not to include electric, gas & water.Even more critical, your $680 mortgage amount, that you appear to be comparing to the S8 rent, should include ALL the other housing ownership costs: property taxes, insurance, vacancy/tenant nonperformance (S8 tenant may have to pay part of rent), maintenance & miscellaneous.Suggest you use the BP Calculator for this.

Cost for the flooring job was $4,100 start to finish. 

A vacant month, turnover costs, paying your PM to fill the unit.