@Jake Miller Kansas city has been heating up for quite some time now as well.

He was paying the heat out of pocket, oil radiant heat.

Remember that every property is different, (example owner pays water, sewer, garbage, landscaping, heating vs. tenant pays all those expenses; this can make a huge difference) so your best bet is to nail down as close as possible each line item in the expense column. 

The market is heating up fast here and we may want to pull some cash out of this one in case something good appears again. 

You are not aloud to have a wood stove in a rental property in WV for primary or secondary heat. 

Here are some preliminary numbers I ran: 260K FHA no repairs and current rents on left, 300K 203K, reno and higher rents on right: % Down Payment 5.00% 5.00% Down Payment $13,000 $15,000 Remainder of closing costs $3,000.00 $3,000.00 Total Due at Signing $16,000 $18,000            Mortgage Rate 4.60% 4.60% Length of Mortgage in years 30 30 Monthly Mortgage payment $1,266.00 $1,461.00 Taxes $386.00 $445.00 Sewer and Water $50.00 $50.00 Trash $50.00 $50.00 Heat/Utilities $ - $ - PMI $ 180.00 $ 208.00 Cap Ex and Ops $200.00 $200.00 Insurance $65.00 $75.00 Mgmt Fee $165.00 $165.00 Vacancy $132.00 $132.00 Total Expenses $2,494.00 $2,786.00     Unit 1 $500.00 $700.00 Unit 2 $900.00 $1,100.00     Total Revenue $1,400.00 $1,800.00     Cashflow/month ($1,094.00) ($986.00) Cashflow/year ($13,128.00) ($11,832.00) Cash on Cash Return -8.42% -6.57% I have not talked with the seller in detail yet, as I want to see if this is worth a deeper dive first. 

I pay a premium for hot-water heating, brick veneer and poured-concrete basements if I have to.

Utilities yes, but it's the 4th floor, a previous tenant said he rarely turned on the heat!

We keep hearing market is over-heated.

I live in the Yonkers, ny area I’ve been reading a lot on real estate and have come to the conclusion that finding a mentor will really be great For my educationone person actually came to mind, the thing is he happens to be a customer of the company I work for and I’m not sure if approaching him would be crossing any boundaries and just wanted to know your thoughts on it I work for a small heating and air-conditioning company and the customer am Referring to Is a real estate investor and former real  estate attorney.