.$65,000 purchase price $16,250 down payment (25%)$4,000 estimated repairs (both units are in great shape, but I like to be conservative)$4,000 estimated closing costsCash to Close: $14,250Monthly RentRent $650/unit (based on research, the market supports $700 - $725/unit)Gross Monthly Income: $1,300Monthly ExpensesTaxes - $135Insurance - $100 (estimated - awaiting confirmation)PM - $130 (10% of gross rent - may manage myself, but would still need to account for my time)Vacancy - $130 (10%; however, the market is currently very high demand <2% vacancy overall)CAPEX - $130 (10%)Rental License - $15/monthGas - $80/mth Water/Sewer - $70/mthGarbage - $25/mthElectric - $0 (tenants pay)Monthly Expenses: $815Monthly NOI: $485Mortgage - $265Total Monthly Cash Flow: $220DSCR: 1.83CoCR:  10.89%After purchase, I think there are a few value-add opportunities:(1) Have water/gas metered separately, and pass all utility costs along to the tenants.

There is only 1 water meter on the property, so I pay the water bill (working on that..).

Another important thing is the metering.

Someone stole the gas meter and I have to wait a month for BGE to inspect and reinstall a meter. 1 month for a BGE inspector!

The property is divided into two units, downstairs and upstairs, both with separate meters ( Both one bedroom).

If they are separately metered, tenants should establish and maintain their own accounts.

If you only 1 water meter for 3 units, your going to have to pay for water, otherwise, I have tenants pay.

A meter reader or a postal worker or the delivery guy at a pizza shop can tell you where vacant houses are.There are cases where you find a 24 unit apt building and only have a short list of buyers where you know it's a good deal, then you do some searching and find another buyer, then do the deal.

Be aware of the costs as you'd need plumbing (water and sewer), electric and possibly a separate meter to the new unit.

Look at the price per square meter/foot, as many developers sell super small until to lower the $ price tag.