I'll get the roof checked out during the inspection.Here are the numbers:Purchase Price - $191,000Comps - $195,000 - $205,000Taxes - $2302Insurance - $950Utlities  - $0 (tenants responsiblity)Total Monthly  - $1050Rent - $1650-$1800 - I'm thinking closer to $1,700.Total cash flow = $650With vacancy reserves, I'm looking at close to $500 cash flow monthly.

This deal looks like a negative cash-flowing deal Pati.

We currently own one house that has around 44k left on its mortgage and has a value of around 120k that we rent out with positive cash flow. 

Although some still cash flow on paper, I have heard that it is never a good idea to buy "the nicest house in the neighborhood," or in other words, pay the most per square foot for a neighborhood.

Duplex 3/2 (large backyard) + 2/1$299,000 - $3,000 in repair creditsRealtor commission assigned to me at closing: $7,100 (my girlfriend was my Realtor and I am licensed as well)Current rents: $1,300 / $1,100Rents after remodel: $1,800 / $1400Estimated cash flow: $150 per doorRehab budget: $15,000Loan type: FHA 3.5% down (I will occupy 3/2 for one year then ReFi) Realtor: Morgan Marziali - Whitaker Realty *Review inspections but don't let them panic you.

I personally focus on sandwich lease options which I believe is the best option for short term cash flow.

@Andrew Lee I have a dew HML's that do a cash flow program for only 3 points down.  12% for the rehab and the it converts back to 7.5% after a tenant is in place. 

Our cash flow was declining but at least the property was appreciating. 

If you are talking about investment, there are newer options you can possibly look into that will qualify you based on the cash flow of the investment.

It will allow you to learn more while you are also owning a property and generating cash flow.