You also mentioned an unpaid water bill, so be sure to deduct any outstanding balance from that bill as well. 

@Edreco AmosMiami’s market can be tricky for cash flow since condo fees and insurance costs can eat into your profits, especially with newer buildings or those near the water.

That actually is a benefit, as no one is expected to water the yard.  

(And I would tell you to not buy a property that doesn't cash flow unless you have significant resources behind you that could absorb anything that could come at you - like replacing a $5,000 AC one month followed by replacing a $1,000 hot water heater the next).   

Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement.  1 kitchen 1 bath 1 laundry. 

This is a beautiful house - rehabbed/looking new and fresh - walking distance to the water etc, yet low gross yield  compared to Byrd (???)

This helps keep me out of hot water with fairhousing. 

Great people, intuitive platform, get their K1s out on time and returns have met expectations...one of the reasons I am invested in two funds at this point as the first investment was really to test the waters and validate I was a good fit.  

The property has 2 electric meters and one water meter.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.