Loan terms seem reasonable.

So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case. 

As Scott mentioned, I am bullish on Buffalo for many reasons.

So you can understand why I was blown away to see prices half that or less with rents 1500-1800 in Duluth.

This is usually done to increase your rental income but it comes with a price as you are finding out.  

If not, there is a legal reason preventing them.

I am sure Appfolio has similar features, but the pricing structure is dependent on your needs and door count.

Today this would be possible in high priced markets were your average loans are more in the 500k range so only 10 a month.. like CA  NJ  Denver and ski areas . 

Purchase price: $140,000 Cash invested: $24,000 Sale price: $220,000 I knew from the start that I was going to buy this property.

I believe it is completely reasonable to have a clause in your lease that places a cap on utilities with any overage (proven by a bill) being the responsibility of the resident.Our clause states that any electrical bill (we don't have gas, and water has never been a problem) that is over double the same month's bill from last year will have the overage assigned as a fee.It is important to keep your bookkeeping straight if you do assess a fee.