Water bills can vary greatly, have you been able to verify how much he owes, if it is getting up there I would issue a cure or quit to let him know you mean business even if you can't evict right now. 

You may also have some luck in Remington at that price but be careful that you're accurately calculating ARV as the housing stock varies block-to-block very much in that neighborhood.Good luck! 

You’ll find they are as varied as fingerprints.

For us, we needed to be transacting at least $500k a year to make it worth it - Your mileage may vary.

Property taxes and crime are two of the big thigs to watch out for and can vary a lot from city to city.

@Chen Lerner the differences between those neighborhoods are marginal and in many cases will vary street by street - don't overlook the bigger issue, which is making the numbers work.Most low end properties come with a lot of deferred maintenance.

This will all vary from house to house, and from neighborhood to neighborhood. 

The value of the land will vary greatly depending on the location, demand, topography, current utilities to the property or proximity and the Highest and Best Use of that property.

Monthly Cash flow (Rent - OpEx) $ 205.59 CoCRoI 38.7% EQUITY AND PROFIT After Repair Value $ 192,000.00 Flip "Profit" (Equity) $ 16,336.23 Return on Down Payment Investment 256.41% ASSUMPTIONS Utilities (Varies by Property) Electricity Water & Sewer 100.00 Garbage 60.00 Shoveling/Lawn Care 120 Total $ 280.00 Reserves Vacancy (%) 5.00% $ 110.00 Repairs & Maintenance (%) 7.00% $ 154.00 CapEx (%) 7.00% $ 154.00 Management Fees (%) $ - Total (19% Reserves) $ 418.00 =================================================================================================================================================Original Listing Price is $139,900.

Townhouses have less problems with financing, but the HOA situation can vary.