Lot rent is $365 and includes water.

The water may be backing up from another fixture that is not draining properly.

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.

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

Quote from @Arun Maheshwari: Hi,Does the bank owned foreclosure property allows to put Inspection contingency for big issues like plumbing, eletricity etc.ThanksIf it is bank owned and the foreclosure has taken place - possibly but they would make you responsible to turn on power and water and turn it back off.

A fourplex means four times the appliances, plumbing, HVAC, water heater, and other repairs, driving up maintenance expenses compared to a single family.In Las Vegas, multi-family properties attract transient tenants, like singles or couples without children, who typically stay 1 to 2 years.

I can't remember exactly, but I believe the main ones had to do with additional parking restrictions and water.

Indeed, where we pay a REALTOR commission, we are initially under water, but look at the long- term probability the rental will remain in the system.

I describe that on my pod cast with bp # 222 I become a ghost at $10m cash mate (Not equity or assets) lolWon't pick up the phone anymore and laptop is going into the Mediterranean waters hehe 

NJ investor myself - happy to help you navigate these unique waters!