You have not included any ongoing expenses associated with a rental business/property which is how you arrived at 600 positive instead of 600 negative cash flow. 

MLS and Realtor association fees will add on another $800 or so, at least in my area.

Howe High School is a nearby magnet school, there is an elementary school there and the community association meets at the community center at the park.I am happy with this purchase.

For tax advisors, I highly recommend Tony Quach and his associates.

But that does have a cost associated with it, we would at this point in our lives supplant it with some sweat equity.

I have been looking around for a local group and have come across the Central Indiana Real Estate Investors Association (CIREIA) from a number of searches. 

On further looking into the details, I found out that he has also not paid any association fees since last few months and now this months water bill is due as well.What should I do at this time to take control this situation to get worse and reduce my loss ?

Anyways I was thinking of becoming a truck driver after I get my associates degree and using that income to qualify so that I can finally buy a fourplex and do some house hacking.

We use the California Realtor Association forms for our agreements.

Most state residential forms promulgated by the NAR or that state association of realtors have that boilerplate type of language.