I know what the rents should be for each of the units (2 vacant and 1 significantly under market), the taxes are listed on the MLS, I’m familiar with the water/sewer costs in close proximity to this building, and I know what percentage to use for my Vacancy, CapEx, and repairs and maintenance based on my knowledge of the local market.

This house had 12” of water/ice in the basement... there’s a nice sump pump set up just sitting there with no power...

We are local contractors in the area looking to get our feet wet in the real estate investing waters.

Water, trash, internet, and fire wood make up the rest of the utility allocation.  

Village to Village Network (https://www.vtvnetwork.org/) and Men’s Sheds Association (https://usmenssheds.org/) are successful models of people building community to improve the aging experience.So drawing on Dr Thomas and Nancy’s work and incorporating cohousing and pocket neighborhood elements into my communities, I have chosen to use shipping container homes in areas along the Texas coast where storms frequently cause wind and water damage.

Started out asking $300 rent and $600 deposit ($900.00) for a one bedroom with water, sewer and trash provided.

So at the end of the 5 years, you are just treading water with the lower price point home, while you made headway with the other one. 

The agreement stipulates:"The owners agree, that no water shall be used for commercial purpose, but only for their private domestic use including vegetable gardens and livestock maintenance."

In that scenario (right now unlikely for the next few years) you may get under water if you didn’t account for it.I never found a bank that would do fix rate for more than 5 years.

If I buy a house for $400k, and the market drops and the house is now worth $300k, I am under water.