So, I wanted to ask the board for an opinion on this deal.Summary: CondominiumPurchase price 75k1 bed 1 bath612 sqft with an 70 additional sqft (non-heated) sun room areaBuilt in 1975, but in great shapeLocated in Charlotte NCNeighborhood on the rise (1.2 million dollar homes, and 800k+ million dollar homes for sale and being built on the same streetSchool district all 9'sFinancing options: 30 year fixed at 5.5%10 yr ARM at 4%Numbers below.

@Jacob Stone, for A/C I've had a good experience with Reliable Heating & Air and I've also had a variety of handy work (but not yet AC) done by Mike Jenkins.

I'm not sure if i'm missing anything else, so any advice would be great before I jump in...Here are my figures (calculated monthly)Purchase Price: $93,000.00-----------------------------------------------------------------------------Total Rent: $2,730.00Insurance: $52.00Property Management: $163.80Capital Expenses: $273.00 (i just used a 10% estimate)Maintenance: $136.50 (5% of Total Rent)Vacancy: $163.80 (avg vacancy for the area is 6%)Utilities: $448.25 (this number seems high, but i flesh out below where it's coming from)Taxes: $593.95 (this seems really high and i'm wondering if there's a way to get it down.Mortgage: $499.00 (93k @ 5% interest rate over 30 years)Cash Flow: $399.70Net Income - Mortgage: $898.70Cap Rate: 12%-----------------------------------------------------------------------------It needs 1 new hot water heater, but he'll have that replaced before purchase.1 unit is vacant, but again, it'll probably be filled before i purchase it.There could definitely be some other repairs, but nothing major and just maintenance things that aren't urgent.Utility ExplanationsMonthly Utility Averages for 2017 YTD:Gas: $72.43 (for hot water only, no heating bills are paid)Electric: $39.31 (For common area lighting and circulating pumps on boilers)Water: $72.95Sewer/Refuse: $263.56 (Charged by the unit for refuse + usage for sewer portion)Total Monthly Utilities: $448.25This seller also has other properties for sale that if this one works out, it might be a good way to grow my portfolio.Some Property PicturesApartment 5 (only one I have pictures of right now but most are laid out the same)

Regarding repairs, be sure to check everything including the floors, air conditioning and heating unit, plumbing (look underneath all sinks and run every faucet), and the condition of the siding outside.

If you're the only one getting heat for the lawn length, you might have a leg to stand on.

This is for Triangle only, the Fayetteville portion is garbage.https://www.raleighnc.gov/safety/content/Police/Ar...This will allow you to see the crime heat maps.If you want up and coming areas you need to expand outside of Raleigh.

The Trulia crime heat map makes the Bates-Hendricks area look like some terrible place, but I know a lot of investment activity has been going on there. 

So if you cut over to heat in the fall and you get a week of warm weather come through, your tenants will end up just being hot.

The existing heating system is at least few decades old, and it sounds pretty rough when it turns on. 

We're starting to gain traction on the furnished rental front.I've got one in the kitchen right now (pre-heating the oven atm), not in the Bay Area but down in SoCal right on the beach, where it's a portfolio Jumbo loan predicated mostly on AirBnB income and very little day-job income, on an exception basis with strong reserves and solid credit.