Don't forget the electric, water, sewer, gas bills you will be paying during the rehab process.

As long as you have a valid reason (being reassigned is valid) then your 2nd VA loan is available to you.3.

There is only one electric and gas for all the tenants.

Do we accept putting additional cash into our first deal or do we keep our eyes open for another deal.Original Offer:Price: 153k ($31k into the deal)Anticipated rent: $2,000k/monthOperating expenses: $9.4k / year (includes management, cap ex, vacancy, taxes, insurance, etc.)Cashflow: $4.2k / yearCash on Cash return: 13.68%The appraisal came in at 146k and they raised some very valid points on why the property was not worth 153.  

Why spend hours and gas money driving around to build this "super hot" list and chance you don't make contact? 

@Ryan MurdockGreat idea, with some really valid, level headed and unemotional points, you should try it... let me know how it works it out.

You are also obliged to have heating in the unit, but that doesn't mean you need to have the gas bill in your name...?

However, after discussing more with the realtor it was disclosed that the landlord was responsible for water and gas, which very much destroyed the cash flow I thought I had.

But on the other hand, I've bent over backwards trying to validate her claims and there seems to be gaps that I cannot answer.

Recently purchased a duplex that has separate gas/electric meters for each unit, but only a single water meter serving both units.