If they have collected any, that would of course go toward the unpaid bill but may not cover all of it.If the tenant is evicted, or even leaves with notice, and the water bill is not paid , I, the owner will be responsible and water service can not be turned on for new tenants until the outstanding bill is paid by the owner.

Hi Mark, The payoff of a seller's note 3 years later is not considered to be a sale of real estate but merely a payoff of an outstanding debt, so it would not qualify for 1031 Exchange treatment at the end of 3 years. 

Outstanding post!

– it doesn’t make sense… It would be like me telling the Agent that he has to discount the monthly rent because I’m an outstanding renter!

I am currently researching both Triplex and Quad multi-family properties in Florida.  I would like to find a mortgage broker who can offer financing with 0-10% down.   

Is there anything special that will need to be added into the contract that would allow me to get out of the deal if I did find an outstanding lien that I wasn't willing to pay?

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges or fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."  

What makes a property with no mortgage more attractive than one with $1000 mortgage outstanding?

You get a fully rehabbed property and their customer service is outstanding.

To enhance and contribute, and make an outstanding impact on the lives around me is the ultimate!