She currently just moved into an apartment with her elderly mother due to personal reasons and now her bills have doubled so she needs to sell ASAP.  

@Damon AlbersSounds like these properties are in a class c area and your manager is not doing a good job vetting themBut this is not out of ordinary for c class rentals which is why people look at cash flow and be like wow but one $5000 bill can wipe out 4-6 months of rental income and properties never make money and rarely appreciateThis is why we do not do lower class rentals as stated cash flow vs reality are typically not close

By doing research we discovered that 1.0 acres was sold off in the 1960s and never caught by the assesment office, so the tax bills were too high for 40 years. 

You certainly wouldn’t just give them back $1,000, much less $1,000 and a tax bill. 

Typical utility bills (which we include) are $100-300/month.  

Investors want a premium on mortgages over the saver treasury bill, historically about 1.7%, but currently more like 2.5% which gets us back over 7% for 30y fixed.I would not be totally surprised if we see 8% in Q1.

@Bill Hampton Thank you!

Make sure to have your bills at different address and having that unit you lived In,  leased out. 

Your new buyer should’ve had a POA, access to the online account, and had all future bills changed to his own mailing address. 

I have to decide if im going to use a new injection of capital from the sale of my primary residence to:1) Hold in treasury bills at 4.5 percent until I find another property to purchase2) Pay off one of two existing mortgages, one at 3.75 percent and another at 4.5 percent3) Just find something to buy that beats either of those percentages on paper and be done with it4) Possibly loan out some hard money/broker it to a friend to allocateIts never an easy decision, but its a good problem to have.