up the expenses a bit. add in reserves, legal/accounting, water/sewer, and trash. looks like actual NOI is around 15k. divide that by the cap rate and you'll have a realistic price.

You could adjust the numbers for what is more realistic to your situation.

I'm taking it slow and steady, but I can feel the momentum building already as the first property is cashflowing $400/month ($250 realistically if I'm putting back maintenace/vacancy etc).

If you filed for eviction now best case scenario you 30 days from having them out (more realistically 60-90 days) plus legal cost.

OK let's be realistic.

What is not realistic is buying your first property by falling into it, although common.

Current ask is $60k, which $50-55k is probably realistic.  

That's why I look at the bottom-line number on that spreadsheet -- THAT indicates what your true return was, or will be, after 30 years.And I really think we have to run some numbers at 30% return to see if that is actually realistic.

Frank, I can really appreciate the realistic views you bring because it does help ground my optimistic hopefulness. 

Realistically, I am looking at flipping about 3-4 properties in each state on a monthly basis, with a ROI of about 8-10% on each flip completed within 90-120 days or so.