made offer on first multi unit..... THEN FOUND OUT A DEAL BREAKER

[Cynthia Hanke]

Made a full price offer on a 4 plex, contingent on inspection. Asked for and was given (a few days later) the owners 2014 & 2015 tax returns. The agent is a dual agent, he listed and contacted me about the listing. Said it's 25% ROI, so I've been overjoyed, but then doubt started creeping in, as I', fairly inexperienced with only 5 properties. Anyway, he said in the original email that all utilities are paid for by tenants except trash. Then, in the email containing the tax info of the seller, he said "The numbers are a little off, because the seller pays the utilities, then rebills the tenants" For me, this is a deal breaker, because my husband & I are traveling a lot work camping, and don''t always have internet or cell service, as well as simple mail service itself tricky. I don't want to be paying utilities, then billing the tenants, and having the additional work of all that entails, while living/traveling in our RV and work camping out of state. My question is this, can I get out of this, based on not being told that important (to me) fact, or would you say generally that's not going to be enough of a reason, and I'll lose my earnest money ($500). Tomorrow we are going to inspect the properties, and our offer is contingent upon inspection tomorrow. I'm not sure if it's better to contact the listing agent, who found the deal for me, and didn't tell me this up front, or go thru with the inspection, and hope we find something. TYIA.

[Braden Coast]

When do there leases expire? You could always deal with the hassle if it's only for a short time if you want. I wouldn't let the $500 earnest money sway me in either direction