I learned the hard way how to shut off water and how to winterize.

So multiple eyes and local expert providing local cost and input on lifespan.Here is an example that has a part that is more expensive in my market than other markets (unlike most parts that are the same everywhere, so in this case your cost should be significantly less due to both cheaper part and cheaper labor): $1600 40 gal water heater installed (this is good price for a plumber, a little high for a handyman) with expected life of 12 years (i have some that go 20 years and some that die in less that 10 years (mostly rheem die in less than 10 years), 12 years is fair life expectation

I learned the hard way how to shut off water and how to winterize.

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.

Many people have a mortgage on a property where the land value is much greater than the home (aka near the water) and insurance is not able to pay off your entire outstanding mortgage.

Granted this was on plots of land I didn't pay for, and that are already connected to the city's water and sewer, so there's a lot of savings there, but I'm hoping if it turns out to be this good of a deal I can still scoop up land and keep going

I a factoring in the replacement of the AC unit and potentially the water heater, and the cosmetic thins (I would do myself) to get it to rentable standard.

A buddy of mine just built a duplex on the water in Placencia

You need to pay your mortgage, car, electric, water, phone, etc.Now, here's where it gets super tricky, I guess, so I'll try to be as clear and concise as possible:DON'T TOUCH THE FIRST TWO.

It had 22 of the 25 lots occupied but we'll be fixing it up, filling it up, billing back water and raising rent up to market.