If that's the case, you would charge rent + utilities + water or just lump it into one rent fee.One thing to keep in mind is that friends often bail on deals like this once you get it so you have to be prepared to have to figure it out if you get the house and he isn't interested.

Once all of that is figured into place, I look at the expenses of the property.

@Erich OertelRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

I figured as much since you had a bunch of question marks and exclamation marks in there and a few incredulous capital letters :) .

We have made an offer for a property and it turns out City of San Diego has asked the seller to replace the uneven side walk by the property does any one has an idea about ball park figure to replace a city side walk?

The rent is guaranteed by other tenants, the regional chapter or the state will pay the rent.I've tried to Google and figure out what sobriety program this is.

@Bryan Cavellier, You can 1031 with any US property including Guam, the USVI and ...drum roll- The Northern Marianas Islands (go figure but I actually had a realtor from there in a class of mine recently) into any other US or one of those territories.  1031 is a federal statute so it's applied the same in all locals with just a few variations state to state at the state level. 

A helpful trick is to completely ignore the rents the buildng comes with and figure out the actual market rents you can get. 

I couldn’t figure out who had to even sign the loan docs let alone the personal guarantees. 

I've been trying to figure out which AI tools to use myself.