Water - landlord plays in JC heights typically.

John Yes, that is precisely why I think it is overrated with respect to cashflow, it is very difficult to find a property that will leave you above water after doing the numbers.

We dug a little deeper and found out the city had a timeline to expand water and sewer services within 18 months.

I was able to negotiate about 10% discount that was purely circumstantial, I'll let time do the appreciating passively instead of running a 6 months construction project with holding cost.

My units don't come with refrigerators but for $25 a month more I will supply a basic unit.  19 cubic foot, no icemaker, no water in door, etc.

What water source is in that area?

All of that culminates to high 20% occupancy; up to mid-30s - if you are on water or if you are nearby skiing (<10min).

It starts slapping and bouncing around wildly and more often than not, gets further away from the water as it probably thinks its being successful in getting away, have you seen that before?

This sewer line runs under 2 of the other subdivided lots that were intended to have houses on them about 400' away and ties into a city main 1 block away from the houseOct 2008 - I purchase the home and everything is great, assuming all is per plan.2010 - Developer sells one of the lots that my sewer runs under to the water district for a future clean water well site. 

Also consider your lifestyle and if you want to be traveling 3 days just to check to see if a water heater is installed correctly and your property manager is looking after your property.