If you have a older home that has never shown signs of foundational issues, and it has a new(er) roof, electric, plumbing, HVAC, hot water heater, etc.

NJ investor myself - happy to help you navigate these unique waters! 

Who knows, maybe you use that money and invest into a new type of toothpaste that blows any RE investment out of the water.

This sewer line runs under 2 of the other subdivided lots that were intended to have houses on them about 400' away and ties into a city main 1 block away from the houseOct 2008 - I purchase the home and everything is great, assuming all is per plan.2010 - Developer sells one of the lots that my sewer runs under to the water district for a future clean water well site. 

Fewer than 20 have signed up.You can lead a horse to water...

For example: Landlord will pay for electric, water and sewer charges up to $100 per month.

However I have had to replace some major appliances recently which had put my in the defecate and added to my motivation to sell (Hot water heater, two refrigerates and a washer/dryer).

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

ON the more risk type product we do land speculation and Land entitlements but the returns blow most any cash flow at the the same dollar amount out of the water..

No extra fees added for repairs, I'm allowed to contract my own people via the PM to do services(HVAC, lawn, water heater, etc.)