That can eat into cash flow pretty fast.You should work with a lawyer to get a proper contract written up.

Hey @Raffy PasionAs others have mentioned its going to be a bit hard to make that amount work well on an out of state investment.In addition to finding it and making sure its not in a war zone, make sure to consider that:You'll be a small fish for the property manager, they'll have other clients with more properties that will be at the top of their list.Your PM will know you are out of state and there is greater potential for fraud issues thereAnytime you want to visit your properties your going to spend 2 days traveling and $1000+ in airfare, hotel and rental car (This could alone could eat up half a year of profits and kill your returns)I think in this situation you would be better looking at doing JV deals on Oahu or an outer Island.  

The HOA board controls what those fees are and they can eat up any profits if you are not careful.

Yeah, I'd rather not delay closing and just eat the costs.

Combine the fact that you will need to lower your offer (to account for interest eating into your margins) and have a longer closing period with more contingencies (you will likely not win nearly as many bids!)

You can't force her, but the city can force you to mow it.So, your options are to evict her because she is not living up to her lease or see if you really like the section 8 income enough to eat the water bill and the mowing of the yard.Many of the Section 8 landlords I know have a mowing crew that mow all houses and any more include the water bill - and just raise the rent as high as Section 8 will allow.As to the city billing landlords for unpaid water and sewer in KC, they have done it for years.  

. : )There is no having your cake and eating it to in this world.

Something I try to avoid as it can quickly eat up time and money.

The remainder would be your actual positive cash flow except for the fact that you have a huge amount of dead equity.Equity of $243K with a opportunity value of 10% is eating nearly $2100 per month in lost income...... $1140 - Mortgage = positive cash flow.

Eat, sleep, breathe them if you want to make real estate investing your home; you'll find gold in the knowledge they provide.