Current expenses are $1300 per month (water, sewer/septic, taxes (property and 10 homes) and insurance (liability and homes).   

They like to buy land, put in the infrastructure with public funds ( water, elec, water run off, roads etc etc)  then sell it at the same price they bought it at to a private company.  

Water drains?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I point out that even if the building didn't need much work in the last 20 years,  many systems (roofs, water heaters, paint, windows,  and may other things) were clearly wearing out and may not last much longer and to avoid unpredictable expenses a proactive approach was necessary to start upgrading)I then followed up with individual conversations with residents which helped me to understand their finances a bit and hopefully understand their ability to pay and what assistance program(s) they may already be getting or be eligible for.   

@Kasim RashidBased on what you provided it seems like you bought the foreclosure on the firstNow what is not on that report is any water sewer or utility liens or potential code violations which could attach to the propertyI recommend before bidding at foreclosure to do your due diligence and home work

In this game, the mechanics and algorithms are already put in place for simulated property values that fluctuate based on population, proximity to pollution, proximity to commercial, hospitals, fire, police, water, and etc. 

As a mentor of mine once told me, you can read about swimming all day, but best believe, your *** can't swim until you get in the water.

I opened a private window and checked my listing, and sure enough, the cover photo of my living room with an inset of the swimming pool was now a kitchen photo. 

Any feedback would be great:Purchase Price: $219,000, 90 days on the marketSurface area: 1900 sq ft1 unit renovated in the past year which includes new flooring: $800, other 2 units: $690 eachEach unit pays water/sewage, $50 internet feeCondition: roof is ~15 years old, will need replacedI was provided with an expense report for the 3rd quarter of 2023.