Rental Property Investor · Charlotte, NC · Member since 2017 · 271 posts · 259 votes
7y
I'd pass on the deal based on what you've shared @Daniel Essex
Cash flow & CoC are low and you aren't accounting for property management. After everything is added up, PM comes out to 11-13% (50% of first month, renewals, etc. etc.). Whether you're self-managing or not, you should pay yourself for your time and always account for it in case circumstances change and you need/want to get professional management.
IMO, you could lend or invest that money and make a much better return with less work.