He had subsequently cleaned it up- both physically and improving the tenants.  

The third unit has its own oil tank and tenant is responsible there.I have a lease renewal on April 1 for one of the two units where I cover the oil cost … on the basis I do the conversion in the spring, I’d subsequently be tasking tenant to cover their own nat gas bills going forward (starting this coming winter).Any thoughts on how I may set expectations or work this into the lease before execution in coming few weeks?

You need absolutely need to research and ask about fractional bidding/ownership before you bid, so I'd suggest asking your attorney to explain it.For example, if you bid at less than 100%, which my understanding is very common in online auctions of this nature, you would be unable to get full ownership of the property after a year, but you would still have full co-liability with the owner, and either live with that liability or take out an insurance policy to protect yourself (which could be costly, as you won't be able to give the insurance company access to do an inspection).There are also issues/difficulties with title insurance, prior and subsequent liens, etc.

The list of expired and vacant listings could be acquired simply through an enterprising real estate broker in the area, and the rest of the data would need to be pulled and compiled from sources like the county assessor and a people tracking service, like Spokeo or BigDataPeopleWatcher

Real estate was my first serious enterprise.

In fact, the vast majority of newbies pay retail for their rentals and subsequently fail in a short period of time.

I remember this being an issue on one mortgage of ours, but not the subsequent one.

Or you could go with a good company I guess such as Wayne Enterprises, LLC or Stark Industries, LLC.

Hi Callum,That is true when you have 5-10 financed properties, you'll need 6 months reserves on all properties you own that are:- 1-4 units residentialand- that are financed or encumbered with debt (doesnt matter if there is one lien or 2nd's or 3rd liens, still counts as financed)However when you have 1-4 financed properties the guideline stipulates that you only need 6 months on the subject property and only 2 months on each subsequent financed property.Yes you can use retirement assets (60% of current market value) as long as you show terms of withdrawal for the retirement account since some state pension/retirement systems do not allow withdrawal till retirement.

For example: roofing, sewer, boiler, furnace, fire safety, foundation stability, led paint, etc.The list is endless and so are the subsequent associated costs!