Expensesget taxes from county. look at current valuation and you should have a good guess at how much it will go up based on purchase price.Find out what expenses are paid by LLVerify which utilities are separately metered; get average winter/summer monthly costs from utility company for any 'house' accountsGet quote per door from your insurance agentGet a quote from your landscaper (find out what they pay)Get a dumpster quote if you don't have city trash binsFind out if there is a parking lot sewer feeFind out rental registration requirements and costs (can be both county and muni)Income:Get the rent roll, In the contract require that you get estoppels signed by tenants and current owner saying amount of current rent, security deposit held, past due balances, and spelling out any promises for additional work/upgrades (there shouldn't be any). 

I would even agree to waive the late fees in exchange for payment via secure funds (cash or cashiers check) and her prompt move out.

Since the loan is secured against your own money, the monthly payment does NOT have to be factored in the DTI. 

@James R Dean if you have a decent credit profile could get you gapped on the down with no out of pocket (the down will cost more than the secured portion obviously).DM me and I'll connect you.

If this is one of your first investment properties then security or consistency will benefit you more than $100/mo does. 

You definitely need leases, ledgers, security deposits, prorated rents, and keys.  

Purchase price: $400,000 Cash invested: $150,000 Sale price: $675,000 This project was what I call one of my "slow flips" where I renovated and lived in the property for 2+ years to secure capital gains exemption.

Secure the unit and leave a note and a VM about where they can reach you. 

I listen to the bigger pockets podcast while driving to work and wish I could go to the beach instead of sitting in LA traffic. personal balance sheet as of 9/14/2021assets                                           liabilities                             bank:$1617.95                              car loan:$10,555.00               savings:$14,284.36                        credit card debt:$159.63emergency fund:$840                    student loans:$0 cash:$113.14 trading account:$1775.10coin jar: $18.75credit available:$6,000 income statement Average income:$2100Average expense:$1875savings rate:$225 social security number 802 00 1031,  just kidding haha what would you do if you had my financial strengths and weaknesses.

I listen to the bigger pockets podcast while driving to work and wish I could go to the beach instead of sitting in LA traffic. personal balance sheet as of 9/14/2021assets liabilities bank:$1617.95 car loan:$10,555.00 savings:$14,284.36 credit card debt:$159.63emergency fund:$840 student loans:$0 cash:$113.14 trading account:$1775.10coin jar: $18.75credit available:$6,000income statementAverage income:$2100Average expense:$1875savings rate:$225social security number 802 00 1031, just kidding haha what would you do if you had my financial strengths and weaknesses.