Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.

My 2 cents is right there with the other guy, get into something on your own first to test the waters and know what it’s like to actually buy and do some work.

.- Good luck getting them to pay their portion for the duration of their lease- Be careful including utilities in the rent as they then won't care about a running toilet resulting in a $500 water bill.- S8 tenants don['t want to pay application fees- S8 tenants cry broke about paying security deposits- S8 tenants in the program for 10+ years claim ignoreance on filling out their paperwork because they've learned a desperate landlord will do it for them.If you want a S8 tenant, you MUST advertise on www.AffordableHousing.com

Water heater 3 years old.

John Yes, that is precisely why I think it is overrated with respect to cashflow, it is very difficult to find a property that will leave you above water after doing the numbers.

ABC kept the first two and half months of rent from the rental guarantee for tenant placement fees and utilities (water, electric).

Also, the water could have entered from other areas and traveled along a beam and exited the kitchen ceiling.

If you don't know how deep the water is, you may get more than just your "feet wet".Third Lesson.Cheap and discount are not the same thing. 

Purchase price: $300,000 Cash invested: $31,0002/1 X 2 duplex with new roof, newer AC's and new water Heaters in really good shape.

You are talking about a new water service line upgrade right?