They pay the utilities (For water I am always on top of it, i ask receipts quarterly), heat and electric also belongs to tenant. (5) My section 8 tenants are very long term tenants, so I am trying to remember how it was initially ???

When you've done a bunch of cap rates you have a feel for what the debt and other expenses will be on a certain sized property, the main variable on a small multi can be whether the heat is included or not.

I collected 750 per month and I had a 261 per month pmt and about 140 in property taxes and insurance and I had a 400 a month heat electric bill.

Facebook is the one with the incomprehensible status updates and heated topics about American idol.

I have no intentions on doing anything, I'm only asking to learn and know for the future.A fully fresh rehabbed property just came up on the MLS, new stainless energy efficient appliances, carpet, paint, floors, heating system, ect..Now, my questions are as followed.1) Seeming how all the work is pretty much done, is their any leverage in brining the price down or is it even worth to look at it in order to FLIP it?

Retail natural gas has been good and I'd think retail heating oil in the north would be okay.Don't do much stock anymore, seems like industrial robotics will be good and R&D in medical robotics.

Here are the numbers:Asking price: 120KUnits are 2/1's, rent for $600 eachBuilt in 1959Tenant pays heat and electricIncome: $600 x 4= 2400/month and 28.8K/ yearlyI used the 50% rule to cover expenses, but some of them would presumably be:Insurance: $115Taxes: $357Vacancy: $240 (10%)The property seems to some sense using the 2% rule (2400 a month rents is 2% of 120k).Financing: I plan to live in one of the units and use FHA financing.FHA down payment of 3.5%: 4200Loan of 115,800 at 3.5% interest= $520 monthly paymentAfter 50% Rule, $1200-$520 = 680/4 = $170 profit per unit/monthlyI have just a couple questions about the property.The owner recently bought it and replaced the windows/doors and claims that the building is in good shape. 1.

Landlord pays heat, tenants pay electric.

Then my buyer's appraisal for the bank blew up when she couldn't find permits for conversions made several years ago by previous owner- they had converted the garage into a master converting a 1600 sqft home into 2200 heated.

Lots of bedrooms for any size family, and renters often can't tolerate paying the heating bill for an over-sized house.Sometimes these can be made into rooming houses, if zoning permits (but that is a more hands-on business to be in than whole unit rentals).