Purchase price $17500 in cash- $105 Title search- $100 city engineer fee- $500 attorney fee- $125 agreement papers- $75 mechanics lean draft/filing- $240 1/2 transfer tax- $500 tax split- $165 garbage, and other misc fees... $1810 closing costs which equals 10.4%The $165 is a number that I had to come up with as the spreadsheet didn't equal the actual costs of $1810. 

The schools are garbage and the city is getting invaded from Detroiter's. 

. , 90% Occ rate, -10% for repairs = approx $11,160 in annual expenses2 tenants $650 +750= $1400 mo / $16800 annual income for a difference of +$5640Water, sewer, garbage all included in taxes.Renters pay utilities.As I understand the "cap rate" NAI/PP(-mort) = 0.11Considering overall property conditions, inspections etc. the numbers seem to work , right?

The owner pays electric for the common space, water, gas for heating and hot water, and garbage.

Bill your tenants for the water and garbage along with their rent.  

Doing a basic expense list tit would cost  $15000 a year to cover taxes, Reno loan, water/sewer/garbage, insurance, property management, heating/cooling and electric .  

In short, it's garbage.

If you keep approaching investors with garbage they will not listen to you after awhile. 8)

The tenants pay all of the utilities and the sewer water and garbage is split amongst the tenants 6 ways.

He also has a garbage assessment lien for $195, a lien from Capital One collections for $1300, and two IRS liens for roughly $8,500.