If you are taking extensive time managing, spending money on gas, repairs and maintenance you are under water.

We could sell that house by itself, but it would be sold under a land in common agreement and an HOA would need to be formed.I also confirmed with the Public Works department that a 2nd driveway can go in, with a septic designer that there's room for second septic tank, and with the public water company that they can tap into the main water line from one of the neighboring roads.I'm sure there are some more details that I would need to iron out that the code officer didn't bring up, but the high level answer I was looking for is that my town does allow selling off a second house under the LD 2003 legislation.

They left us without hot water for two months upon moving in.

The 2 main issues are that there's a leak in one of the bathrooms that is causing water to flow under the sub-floor and into the crawlspace. 

If there are excess funds after paying the local/school real estate tax bill, the remainder can go to:Current real estate taxesCurrent Muncipal liens for water/sewer or any other bill initiated by the municipalityState Liens, usually for outstanding state taxes, sometimes employee/employer taxesPA State Inheritance Tax which applies to all deceased owners and starts at dollar one with no exemptions, unlike the Federal Estate Tax. 

Most recently, I worked with a client out here in Colorado that let their parade of homes house (from 25 years ago) in a gated community literally fall to pieces; mold between window panes, water infiltrating the kitchen due to lack of roof repair, patio pavers crumbling apart, downspout misplacements that caused water infiltration into the living room....just a mess. 

Hello All, i came across this  college town property - it is a value add opportunity. 14 Unit Complex - 12  2bed/1bath   &  2  1bed/1bath         * Separate electric and water meters.

He only pays $325/month.For people interested in the numbers:Purchase Price: $250,000Rents when fully occupied are $5,500/month (most units rent for $175/week) My monthly expenses are roughly $2000/month (working on lowering this buy buying the Water softener isnt of rent, switching the internet/cable company, and adding insulation in roof to lower my utility bills)The best way to get started is to just get started, I dont have all the answers but it seemed like a good deal and a great learning experience! 

If it is truly a detention pond, the purpose of it is to temporarily store storm water. 

You will quickly learn about footings, water service replacement, electrical load calculations, and a bunch of things you don't know about.