Most guys who I know who are doing OK bought in the early 90s, or 2008-2009-2010.My resources are MLS stats, and rent calculators like rent-o-meter, zillow rents and craigslist to find rental numbers in areas.My point is this, I can find a 1.5% deal that is OK here, or buy 5 2-3% deals in another market with management for the same outlay in resources/cash/loan/whatever.

(Utilities are likely just water, and then it depends on how the water is metered as to how much you can really know.)One advantage you have when buying multi-family is that, almost without exception, the previous owner was renting out part (if not all) of the building.

According to the water meter, approximately 1 days after being served the court summons for eviction, the tenant turned on all of the faucets in the home and ran them for about 55 days.

He also saw that the meter itself has been damaged.

Second, what opportunities are there to add value through sub-metering utilities, raising rents, etc.?

.$65,000 purchase price $16,250 down payment (25%)$4,000 estimated repairs (both units are in great shape, but I like to be conservative)$4,000 estimated closing costsCash to Close: $14,250Monthly RentRent $650/unit (based on research, the market supports $700 - $725/unit)Gross Monthly Income: $1,300Monthly ExpensesTaxes - $135Insurance - $100 (estimated - awaiting confirmation)PM - $130 (10% of gross rent - may manage myself, but would still need to account for my time)Vacancy - $130 (10%; however, the market is currently very high demand <2% vacancy overall)CAPEX - $130 (10%)Rental License - $15/monthGas - $80/mth Water/Sewer - $70/mthGarbage - $25/mthElectric - $0 (tenants pay)Monthly Expenses: $815Monthly NOI: $485Mortgage - $265Total Monthly Cash Flow: $220DSCR: 1.83CoCR:  10.89%After purchase, I think there are a few value-add opportunities:(1) Have water/gas metered separately, and pass all utility costs along to the tenants.

There is only 1 water meter on the property, so I pay the water bill (working on that..).

Another important thing is the metering.

Someone stole the gas meter and I have to wait a month for BGE to inspect and reinstall a meter. 1 month for a BGE inspector!

The property is divided into two units, downstairs and upstairs, both with separate meters ( Both one bedroom).