The money leftover after these expenses is what you get to keep in your pocket, or in your case pay to the IRS.Many new investors are shocked at how much these expenses add up to but it can easily be 50% of the rent.

As a result, complications with closings became prevalent, as buyers and closing attorneys experienced shock over unknown debt they were expected to assume.SB 206 mandates that a water supplier provide a notice of outstanding debt within ten days to any real estate agent, closing attorney, owner, tenant, or lender that issues a request for such information.

You should have expected many problems, so I don't understand why you seem shocked.

Having met my future wife and then moving to the Bronx, from Wilton CT, it was a bit of culture shock for me at first, but that was 20 years ago.  

I wasn’t prepared and it was quite a shock.

I wish them all well, but if I'm a betting man I'd bet that a shockingly large percentage of them will go BK in the next downturn ... and you will never hear THAT story.

I am shocked that this is not self-evident.

It was shockingly hard for me to find an agent who understands investing when I started out.

I will be shocked if you say they are.

The new investor is so in shock someone responded he/she can't believe there isn't a deal to be had (and most likely there never will be).