The purchase price is $190,000 and estimated repair costs are around $30,000 (need to add a toilet and sink in my unit). 

I spoke with a neighbor who has been inside and the place needs a total redo...the windows are all broken out and covered with plexiglass, roof may be leaking and needs replaced, pipes are likely burst...but it's a big place with a lot of old charm...the porcelain kitchen sink is probably worth more than the auction price.

IMHO, newbies should be focusing more on cash flow, so they don't sink.

In addition, overseeing it ourselves, we catch other things PMs and tenants don't pay attention to, like loose pickets on fences or porch railings, sills starting to rot that need a coat of paint, caulking around tubs and sinks, tightening loose handles on sliding glass doors, etc. 

I use Mint.com for my personal finances and I love that set up as I can sink it with my bank account and everything goes through to there into categories I have set up, which his how I am sure most programs are.

Since I have not had use of the dishwasher for the last six months, I now have no where to wash dishes but in the bathroom sink.

They said to me "You are very good at taking care of everything" and on our way out I saw another tenant and said to him "I will be replacing your sink" and he said 'i know, you do everything right"  Now these are 2 duplexes that I bought  fully occuppied so I have been doing the needed renovations peice meal, because of money issues,  and while the tenants are in the apartment while the tenants stayed in place.   

These pads are needed on Asphaltsince in hot weather they will sink into the asphalt.F.

Even though "bored" isn't even in my life's vocab but if by some miracle I ever do get to that point, I wouldn't mind changing a water heater, stopping a drip under a sink, or replacing a door knob in order to break the mundane.

And next is one of the big banks sinking down.