But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

Moderators might move it into Classifieds section - then it would open the door.

Don't be suckered into buying cheap properties - unelss you know exactly what you are getting into.Here's some copy & paste advice that applies to just about any Midwest rental market:--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Should I live in this house after and buy more property with the 100k or rent it out move and try to buy more property, the only problem is my area is so expensive a new mortgage would be more then what im paying now.

I have read that if a parents gifts it, then it can be transferred tax free.

i fyour getting paid off when the vertical loan goes on.. then your in first position . so not sure what the issue is? 

Some people will do this with one building, then after a year go out and repeat the process with another property.

When that tenant becomes an issue (and if they're not paying rent, they will become an issue) he can then simply tell the tenant that he's going to file eviction papers if they don't move voluntarily.  

They'll start at minimum and then if no one bids, start lowering the price until someone does get the bidding started. 

Checking: collect all income here, then use it to pay bills.