HUD Fourplex

[James Syed]

Hi BP,

I'm getting ready to submit an offer for a HUD fourplex. They are all large 1 bedroom units. One bedrooms in this area are going from $400 to $500. I am guessing that water and heating was paid by the last owner as I found one huge water heater and two furnaces during my physical inspection.

If I have to pay water and heating for all units plus common area and my rental income is $400 per unit, that will be a BAD investment. Am I right?

My question is, how much will it cost to install 4 water and gas meters? Would I need any special permit from the city water department?

It's a HUD owned fourplex.

Any suggestions would be appreciated.