Total annual mortgage cost would be $2100, but savings should be significantly more than that, even more when you factor in mortgage tax credits.I'm sure you're saying, "well you just replaced your oil/gas bill with an electricity bill"... 

In addition, there was no refrigerator in the kitchen when we received the key.

All that was done with a simple post not much different then this on an electrical engineering forum.

Someone bought it from the bank for $65k, put on a new roof, new siding, gutted everything inside to the studs, new plumbing and electric.

Only time i had trouble is when i called in subs for electric or hvac trying to screw me. 

Thanks for the explanation @Curt Davis but If I'm not mistaken the property mgt. company role does not end on assigning a resident and collecting rent.What about ongoing fixes around the house (broken appliances, electricity issues, etc.) ?

We think part of the electric will need updating as well as some of the plumbing. 

The property needs A LOT of TLC, detailed out below.Purchase Price: $129,000.00Renovations: $63,120Monthly Rents: $1350.00 per unit, tenant also pays electric, sewer/waterI could certainly use some practice in estimating repair costs, so here are my assumptions for repairs that will be required based on the photos available on MLS.

In my market the tenants pay for gas and electric I pay for water.

Do you install USB electrical outlets?