Also, can you provide some examples of clauses to include in the addendum?

Calculate your bottom line using 70% of ARV (After Repair Value).Do not spend more than (.7*ARV)-RC (Repair Costs)Example: House is appraised at $100,000 *if repairs are made*...7*100k = 70k.Repair costs are expected to be $25k. 70k-25k = $45,000 (DO NOT BUY THE HOUSE IF IT IS OVER $45k)Take another look at the ‘going rate’ of rent in your area, make sure your cash flow is enough to cover ALL costs and include a buffer for taxes and unexpected repairs.Look at the property yourself - try to eliminate assumptions.Have a trusted professional assess and confirm info about repairs that may have been overlooked.Look at how much work you can do on your own and compare it with contractor rates to complete all repairs.

I am already having them put vinyl planking in all the floors including the bedroom and both houses have separate utilities.

If you DO include any utilities, you MAY be able to leave these outside the lease agreement.. example, lease reads no utilities included & agreement X reads they pay you $____/ month for ______ utilities and that you may change this rate with 30 days notice.

When analyzing a property like this, would you include the garage income in the analysis?

Rent for all three renters would include utilities.  

Not sure what basic info I should include but any feedback/suggestions/recommendations would be greatly appreciated. 

Roof also includes a whole set of features for your tenants to use with their roommates—think splitting expenses, groceries, chores.

Note that "bird dog"-ing is illegal in some states, including Illinois.Wholesaling of real estate is considered illegal by the courts in some states where the distinction between marketing a contract and marketing a property has been blurred by the wholesaler's marketing tactics.

The package provided by the owner only listed monthly expenses of $415 (not including taxes, insurance or utilities).