So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc.

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Think on it, how much does $250mnth buy for a furnace, a/c, water heater, carpets, really any reno at all?

So you would spend around $25-$30k a month (this was 15 years ago) on police details and require union gate and non union gate if you had non union workforce as well.In DC area, the utility providers are a huge challenge, whether getting permanent power, or water/sewer service etc - good luck.

If you have a older home that has never shown signs of foundational issues, and it has a new(er) roof, electric, plumbing, HVAC, hot water heater, etc.

I know it can feel like uncharted waters at first.

Eats up time and money getting rid of a bad tenant (not to mention possible property damage). 

You often see them in coastal areas where the houses are on stilts to prevent damage from king tides or storm damage from flooding.They were a way to do foundations pre-1900 in a lot of areas, especially here in the northwest.

You should look for an "investor-friendly" PM company that knows how it is just dipping your toe into the water of buying a home/condo/townhome..