That has actually made me dig a little deeper to find out the answers for myself.

I am going to dig a little deeper to get more information.I based my assessment on the market cap rates and price per door.

My guess is becuase you have underestimated expenses.My partner and I bought a house last year and within the first two moths we had to dig a new drain line to the curb and put on a new roof.

Then had a contractor with a bobcat dig a spot and compact the gravel.

A lot of very good points were made here and I'm going to dig a little deeper on this one.  

Probably be a good idea to sit down and dig a little deeper to clarify expenses.

Your hesitation is your gut talking to you.I would take a little more time, dig a little deeper, and find a no-brainer deal.

move this problem to Chicago and you will go broke on that rehabcity will make you put new line to the meter inside your basement NOT patch old galv lineyou are lucky if the box is on your side of the street. if it is across the street you are looking at union city workers dig a ditch on the street ..City will not allow to "shoot" the pipe under the street ..no no ..union gots to get paid..15K if you are lucky..

What if the sewer clogs the day after he closes and he needs $5k *today* to dig a new line?

Well, out of curiosity, I decided to dig a little deeper.