What Am I Missing?

[Mark Nouveau]

This is my first offer on a 3-unit building. This will be a buy and hold for me for equity build-up. Any insight is welcome!

I will have to pay for water -- here in Chicago water is only a couple hundred so I left it out as a line item.

Here are the details:

[J. Martin]

Hazard insurance on structure? Trash? Common area utilities? (besides the known expense of water, which you intentionally left out, even though you seem to know what it will be..) Are units individually metered for gas/water heaters? Is it customary for tenants to pay these costs in your area (or will your rents suffer unduely by forcing it on them?) I'll assume the building is not subject to an HOA. Trash is customarily paid by owner in apartments in SF Bay Area (or it overflows in backyard with tenants 'paying' for it.) Common area utilities are for any exterior lights/water/laundry room etc. I only have 1 water heater (gas) for the 4plex, which I factored in at purchase. Fortunately, laundry income pays for that and most of the water..)