Net income = $39,240Monthly operating expenses are as follows: Trash - $33, Landscaping/yard - $66, Electric - tenants pay, Water - $95, Maintenance $87Monthly taxes about 3KSo, gross expenses are at $41,064If I'm doing the calculations correctly, my net operating income is -$21,888 and cap rate is -3.4%.Obviously the current numbers look terrible for this investment, but I feel like the rent should be raised significantly based on comps (above 2K each unit). 

Electrical wiring has been redone to normal.

FHA is tough on a few things like "Chipped paint" any signs of chipped paint will stop financing and need to be addressed (Painted), Loose or missing hand railings, Water damage, Mold, Termites, Outdated electrical or any wiring that is exposed.FHA will also stop you dead in your tracks if the appraisal shows anything that is considered a "hazard or safety issue" and must be fixed.

Finding the property, negotiating, finding and managing any subs for work he would not do (such as plumbing and electric), purchasing materials, doing quite a bit of the labor. 

Upgraded the roof, plumbing, electrical, waterheater and windows.

I also redid all the plumbing, electrical, and painted the entire place.

Im pretty sure it will need new hardscape, electrical upgrade, flooring, demo , hvac and new kithcne and bathrooms. 

Commercial Electric prices going up @ minimum 1.5-2% along with EV usage. 

The home, previously owned by an electrician, was still inexplicably an electrical nightmare.

Just getting started ..........right now comparing if i want to add a separate water meter and electric  meter to the property.