I know that statement will cause a stir with some YL devotees, but I am not to first to make that observation here on BP.

Hello Guys,I have a duplex in Tampa,FL. owner pays for water for both units, and it is managed by a local property management company.We recently had to evict on of the tenant.During the eviction process the tenant did not allow the PM to enter the property.At the end when the eviction process ended and the tenant is out of the property in Jan 2018, PM observed damage to the property.Which costed me 3000$ to fix it, loss of rental for 6 months and eviction charges. a pretty bad experience for a new landlord/investor like me.When i thought everything is settled down, my PM now came back with HUGE utility bill, they say i owe 7900$ to the water company.When i talked to them, they see increase in water bill from the time when eviction started. looks like the tenant was running water.I came to know the tenant has a previous eviction , how can a PM give rent to a person with eviction record.Here are my questions:1) is there a way i can look to get waiver for the water bill??

It's just an observation from someone you might think of as a "prospect".

Since we are both in the same area and you have been doing this a lot longer than I have, I would love to hear your observations.

@Michael SteinerIt's very hard to give constructive feedback without knowing more about where the property is located, the types of tenants, etc. but the only observation I have is that if this is really a "C" area, you may want to budget more for maintenance/repairs (because these types of tenants generally do not take care of buildings as well) and vacancy (because you may have longer lease up times, late payments, tenants skipping town, etc.).Other than that, I didn't see anything that stands out.

Its an observation about Josh go back and read the threads.

@Diem Tran The answer is "Yes".The 50% rule of thumb, is basically a statical observation:  If you take a {statically significant} number of properties over a period of time (years, decades), the expenses will average around 50% of the gross revenue ... the other 50% will be NOI.  

I plan to attend March 3 just to observe. 

I'm here to observe and absorb knowledge from you all

Got out of the STR business myself but still in touch with some people who are still having success.In my observation, the only homes where the #'s still pencil out are the larger, more luxury products.