Yep, you need to cover all utilities, though it's becoming more common to put a cap on certain costs, primarily electricity, although I've seen caps on gas and water in areas where those utilities are very expensive.

Again all of this varies depending on what you are trying to do, and other financial aspects related to you, but these are common aspects of deals, funding etc. 

This may sound common sense, but I would ask if there is a tenant in place.

Who handles common area maintenance (snow/lawn)?  

I've heard of people spending more time and money on the land, utilities, roads, and common areas (especially if there's a bath house) than the units themselves.

If you want to see what is being offered on the market, this is a very common source and a good place to start.

I asked the clerk if it was common for the contractor to not show up and her response was...most have outstanding warrants and leins and won't come near the courthouse.Not sure what you are out but it might be better to limit your losses and eat the money. 

Hi @Rabia Khan,To answer that question, it would be up to whether you can afford a single-family home, or if you would like the idea of not caring for the outside of the building and common areas.

I spoke to investors in Cali that deal life cycles are commonly 9 - 12 month.I have a few Cali people in my out of state investment group. 

He replied, "I don't know how you keep finding sellers willing to do that".Here is the secret sauce, know and understand the seller's motivation, ask questions, and don't be afraid to ask for the terms you want.It is more common in medium-sized multifamily where it is a business but not large enough to be professionally managed.