However, after 37 years in the oil and gas industry, I have reached that stage in life when I would like to do what I want to do, and not what I have to do, enjoy my family more, as well as have the freedom to leave a job, and start doing something different.There are different ways to invest in Real Estate, and I have to learn what better fits me at this time in my life and my finances.

Gas and electric and the list goes on.

You'll have to see how each State Attorney General defines and applies "gouging" buying or selling anything from the norm or taking advantage of the public......usually they are more concerned with gas prices, fire sales, going out of business sales, but they can certainly touch on real estate transactions and do (usually in larger sham transactions).

Annual Operating Expenses Real Estate Taxes $14,650.00 Insurance $6,874.00 Water and Sewer $18,171.00 Snow Removal $0.00 Trash Removal (ROT $60 x 12) $3,768.00 Electric $10,594.00 Gas $9,803.00 Oil $0.00 Legal (rule of thumb) $500.00 Management Fees 10% $0.00 Repairs and Maintenance $49,329.00 Other (Turn Costs + Onsite) $41,222.00 Other (Onsite Manager) $24,000.00 Total Annual Operating Expense $178,911.00 I'm thinking this is a pretty easy fix.

I only have 1 inherited tenant, she has the largest space (still lower rent at 700 could be 900-1000 with renov) she has 1500 sqft.I'm fully leased every other unit is totally renovated. they all have gas forced air.

We pull electrical, plumbing and gas and HVAC permits when necessary.  

This way, not only you get cash from your other 3 tenants, but you can also deduct all of your expenses, like cell phone, car, gas, furniture, etc.

I work in the city, so in hindsight I could have bought a property in the suburbs and then bought a double closer to the city as my second property using owner occupied financing and use the reason that I'm moving much closer to work which saves time and money (gas).  

The common areas have electricity for lighting and hot water heat and there are two coin laundries so the owner utilities consist of common area electric for lighting, gas and water for the common area heat and hot and cold water for the coin laundry. 

For instance, main house has gas heat, water heater and range but everything in the studio is electric.