If you numbers are correct (check the landlords books) and you are close to 10% than seems to be a good deal. 

@Adrienne Bryson That's awesome to hear @Michael McDevitt sounds like the normal timeline, and that's exactly what I plan on doing in between deciding and actually landing my first deal.

Interests - fix/flip, landlord, commercial. 

Some landlords start eviction papers right away.

See Jay Z and Beyonce are just like regular Americans....except their mortgage is about $250,000 a month...They are reportedly billionaires but..I guess they wanted to lock in that low 4% interest.It would be pretty f...

The property is currently tenant occupied, and is one where the landlord pays the utilities (multifamily).

Mashvisor, which pulls in MLS data from most metro markets, displays the properties and gives you an analysis as to how much you can expect from the selected property either as a long term landlord or short term landlord. 

@Ryan McEniff based on my education and training when analyzing a deal I use the following for operating expenses: Check with the local area you are buying by asking the local experts, but as someone who is a real estate Broker in CA, our average closing costs on the buy side for a buyer will run between 2%-3% of sales price (most of that comes from lender origination fees). 10% vacancy (most deals I see when being offered for sale are between 5%-8%, but if it pencils with 10% I know I'm probably covered on vacancy)10% for property management (until I know exactly what the PM fee is then I would modify, but average is 8% to 10%)5% for R&MActual Property TaxesInsurance (Get quotes from 3 companies and take the average)Landlord Utilities (12 month average.

The variance will not permit any use that is not allowed in the zoning district where the affected land is located.

I'd love to turn the condo equity I never expected to have when I bought off a desperate sponsor in 2009 into a steady income stream, but don't have the time to be a full time landlord.