@Niqque Waters good luck on your journey

They replaced and brought two water heaters up to code.

In chatting and building the relationship (I’ve been helping repair some things around the duplex), he’s the one that has been discussing moving on with the property and the thought of owner financing, he mentioned the tax benefits of it all.Now he could just be testing the waters to see how much I know and what I would be willing to expose, but he’s definitely keen to the idea of it all...I guess overall I’m eager because I know the power of this property, and the willingness of information he’s been sharing with me.

New kitchen, update bathroom, new floors, some exterior work, new water heater, and paint.

Then, when the problem occurs, you'll be prepared to handle it instead of panicking to get your head straight.Examples:Tenant pays lateTenant doesn't pay at allTenant asks you to waive late feeTenant asks to move their due date for rentNoise complaintsTenant fails to water/mow lawnUnauthorized petUnauthorized occupantTenant wants to break lease earlyTenant abandons rentalTenant abandons rental and leave stuff behindTenant refuses to let you or a contract in for inspection or repairsYou get the idea.

This could come in the form of something big (water heater), or a bunch of little things (garbage disposal, dishwasher, toilet). 

Insurance and water bill are estimations.

A functioning lock is absolutely a condition of habitability as much as running water or heat.

It looks decent from the photo but looking for water stains on the lid inside would be essential as well as getting the seller disclosures.

Even private clubs are struggling to stay above water.