@Larry Fried Larry, who is your Jax turnkey company?

Please be careful with the area W.S.

Is it better to go with a cleaning company I've not been into this before.

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?

Minimum 30k a deal.Leasing it out is generally another commercial company on larger deals.

On another side, you may find it worth it to let in a dog to ensure you get that golden tenant that every landlord dreams of (you know the ones that pay on time, are easy to work with and take care of the property).

Books, Articles, companies, a cold beer to relax... 

Hi David,I suggest having an S corp as the parent company owning the individual LLC (for liability and tax advantages.

It's a long weekend and I can't contact title company to know where to go from here.

Myself, my wife, my two-month-old son, and my brother.We take extremely good care of our places of living.