Property DetailsCurrent Mortgage Balance: $113kCurrent Estimated Home Value: $180kYears Bought: 2013Interest: 30-year fixed 3.99% (No PMI using special loan program for just 15% down)Analysis: Income Current Lump $50k Principal Payment Paid Off Mortgage Rental Income $ 1,500.00 $ 1,500.00 $ 1,500.00 Laundry Income $ - $ - $ - Storage Income $ - $ - $ - Miscellaneous Income $ - $ - $ - TOTAL Monthly Income $ 1,500.00 $ 1,500.00 $ 1,500.00       Expenses       Water/Sewer $ - $ - $ - Garbage $ - $ - $ - Electric $ - $ - $ - Gas $ - $ - $ - HOA $ 240.00 $ 240.00 $ 240.00 Lawn/Snow $ - $ - $ - Vacancy $ 150.00 $ 150.00 $ 150.00 Repairs $ 15.00 $ 15.00 $ 15.00 CapEx (Replacing Things) $ 125.00 $ 125.00 $ 125.00 Property Management $ 150.00 $ 150.00 $ 150.00 PITI $ 778.67 $ 475.15 $ 180.00 Other Expenses $ - $ - $ - Total Monthly Expenses $ 1,458.67 $ 1,155.15 $ 860.00       Cash Flow       Total Monthly Income $ 1,500.00 $ 1,500.00 $ 1,500.00 Total Monthly Expenses $ 1,458.67 $ 1,155.15 $ 860.00 Total Monthly Cash Flow $ 41.33 $ 344.85 $ 640.00 Total Annual Cash Flow $ 495.96 $ 4,138.20 $ 7,680.00       Cash on Cash Return       Down Payment $ 30,000.00 $ 30,000.00 $ 30,000.00 Closing Costs $ 2,000.00 $ 2,000.00 $ 2,000.00 Addition Lump Principal Payment $ - $ 50,000.00 $ 115,000.00 Miscellaneous Initial Costs $ 3,000.00 $ 3,000.00 $ 3,000.00 Total Investment $ 35,000.00 $ 85,000.00 $ 150,000.00 Cash on Cash Return 1% 5% 5%Any helpful insight and/or constructive criticism on the math and assumptions on this analysis would be greatly appreciated.

I would also check the state of the electrical wiring. 

How do I make sure the water and electric bill are all in their names?

Once you’ve read enough T12s and understand avg expenses per door whatever market you’re in, you will better understand your proforma and how the property would operate You can simply take out the perceived capex line items, then categorize as Capex/Major Repairs (roof replacement or repair, re-plumbing, repave parking lots, ac, electrical, interior & exterior Reno) Expenses (taxes, insurance, service contracts, management, utilities- wst, turnover, legal, maintenance, G&A, payroll) Now take the income minus expenses.

All large cap ex items have been replaced (plumbing, electric, roof, A/C, windows, appliances).

Check with your municipal office to see if you can put up a electric cattle fence.

Did a medium rehab to both of the units which included work on the bathrooms, kitchens, electrical, plumbing, flooring, paint, hvac, etc.

Nor does it look like you have accounted for the electrical.

I've been quite conservative in running my numbers with a max rent of 800/800/500 (I would live in the 4th unit), but median rents are 1,100 where I live and this is in a really good walkable location.The electrical is rough (knob and tube) and although I plan to bring it up to code I don't plan to rip into the walls until I have a few years of income to do some remodels.

There's sure to be house electric for exterior/hallway lights and most MFR owners pay water/sewer (though not always).