Each unit has its own electric panel, gas meter, furnace, water meter.

The biggest issue I see with first-time investors here in Denver and Colorado Springs is not that they buy the wrong thing; it's that they take too long to buy or don't buy at all. 

I'd also look to see if water is getting in or if it was just a problem with humidity.

How is the roof, the mechanicals, water issues?

So here is the first thing that doesn't make sense:How can anyone try to convince you that the foreclosure list, absentee owners list, job loss list, water shut-off list, tax lien list, and probate list are "good lists" when 999 people out of 1000 on your list are not motivated to sell?

. - 5% of agents "walk-on-water".

Mainly because I "assumed" how long could utilities such as water ,trash and electric really get backed up without getting shut off.

We needed an upgraded 200amp electrical panel ($5-8k), extended water and sewer for the garage ($5k), built out interior ($7k?)

No question RE is a long game and those who try BRRRRR (I add the last R because there should be one called "Reserves") with $200 cash flow in low cost areas are generally going to be blown out of the water in short order.

Rain water used to sit in back yard and crawlspace.