Also, Rivian is a new electric car manufacturer that is setting up in the old Mitsubishi factory in Normal.

In my specific case, the tenants pay electricity & gas, but the previous owners were paying for water.

The owner pays for all the bills currently 575 per unit, which include water, electricity, internet, and cable.

For example, certain electrical outlets that are dedicated to equipment such as appliances or computers should be depreciated over 5 years.Benefits of Residential Cost Segregation Although the cost segregation process may appear complex, the benefits of conducting a cost segregation study on residential rental property are both practical and significant.

I have recently reached a point where the existing electrical components of the home are in need of replacement.

So, with that said, if you followed that concept, it would depend on whether you were responsible for the electricity currently.  

I just graduated from college in June with a degree in mechanical engineering, but I've found that my true passion and interest is in real estate.

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

So many successful investors come from the construction/carpentry/plumbing/electrical industry because it was there advantage.

Depends on your search engine that you are using.