Thanks for the kind words.
As for the deal itself, here are the details.
It's a normal, single family home, a 2/1(~1100 sqft), but it has a detatched garage with a add on 1/1(~450 sqft) above it.
I paid 97150 with 20% down. The closing costs were about 1500. My interest rate is 4.625 and I was charged .04 points. 30 year.
For taxes I estimated about 2700, but I expect them to actually be a couple hundred lower. I just like to be a bit on the conservative side.
For repairs, they are very very minimal. The main 2/1 needs next to nothing. It's in fantastic shape. They even threw in all appliances(which are in great shape) and a TV. It even has a small waterfall in the back yard that the previous owner installed. Also has covered parking for two cars, and the garage that the apartment sits on is a 2.5 car garage, off street)
For the garage apartment, it really only needs carpet, paint, and a new AC(window unit.) So I estimated around 3k for everything.
For expenses I just estimated 8% for vacancies, 8% for repairs, 5% for capex, and 8% for management fees(even though I plan on self managing for the foreseeable future.) For insurance I estimated 200/mo, and it came in a little lower at 180 a month.
As far as rent goes, I should, at the absolute worst case, be able to get 1400 between the two. I'm pretty confident that I can get 1600-1700 though.
That puts my ROI @ 1400/mo right at 8%, which I know is a little low, but I also felt even at this ROI that I'd be happy enough to just finally pull the trigger and learn some stuff.
At 1600/mo my ROI is just a little under 15% which I would be extremely happy with.
I'm positive I've made some mistakes along the way, but I think I'm just really happy to finally stop reading and thinking and just do it.
If anyone has any other questions, please don't hesitate to ask.