We stayed in town and cleaned, hired a painter because the one she hired "touched up" by leaving patches of another color all over the walls, drove a trunk load full of food (open cereal boxes, pasta, food left in fridge, etc.) then another full of trash to a dumpster, replaced a missing bedroom door that never got deducted from the security deposit of the last tenant.

The House is 675sq/ft half duplex, it is in great shape only thing it needs carpets cleaned a fridge and the heating system worked on, I would like to add central AC to the existing forced air system.Financials Purchase price 49,900 Closing cost $6129 Holding cost $1200 Repairs $4000 Down payment 20% %9980 Total out of pocket expense to close $21,200 Total out of pocket expense $61,229 Mortgage rate @5.125 monthly P&I $217.35 Monthly taxes and insurance $191 Total monthly payment $408.35 Rental Income Gross Rental income $850 month $10,200 a year 10% vacancies $1020 a year 10% maintenance $1020 a year $100 for property management even though I will manage the first on my self So total monthly expenses with mortgage 678.95 Cash flow per month $171.05 annual cash flow 2052.57 Net annual income including P&I $4668.00 ROI 22% Cap Rate %9.35 Not many comps in the area to compare to but appraisal came back at $62,000.

It has a very luxurious back yard with beautiful pool and glass fire bowls with waterfall and bbq/fridge.

Like the fridge/stove/pest control, since they did not tell me about this and it became worse?

We would probably add an extra fridge in the basement for overflow.

My one tenant asked for a quieter fridge, I would not have thought of that. 

So I grab water from the neighbor to wash the fridge . 

The problem with efficiency units is 12 toilets, 12 stoves, 12 fridges, etc. and around half the rent of a two bedroom.

Also, it might be some time before I actually get kitchens installed - so I'd probably just put in a fridge, microwave, hotplate,  - anyone see any issues with this?

The hotel rooms aren't condo units and dont have kitchen, fridge, etc.