Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.

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

Purchase price: $300,000 Cash invested: $31,0002/1 X 2 duplex with new roof, newer AC's and new water Heaters in really good shape.

If you don't know how deep the water is, you may get more than just your "feet wet".Third Lesson.Cheap and discount are not the same thing. 

Also, the water could have entered from other areas and traveled along a beam and exited the kitchen ceiling.

You are talking about a new water service line upgrade right?

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

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

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

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.