I know the 20yr city development plans, I know of the waste water treatment facilities that are wrapping up approvals and have not even broke ground yet and exactly how many w/s laterals will be approved with such. 

I recall when I first dipped my toes into out-of-state properties; it felt like navigating uncharted waters, but it opened up some incredible opportunities.Between BRRRR and turnkey, it really boils down to how hands-on you want to be.

The biggest danger is a leaking tank that causes water damage, but it hasn't happened to me yet.

I have a lot I have purchased in Cancun and am needing to submit plans for the construction of the home itself fairly soon and am like a fish out of water.

Muddy up the waters more than that and it can become impossible to leverage.  

Instead when the washer drained water went everyone.

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

Your worry is if the pipes are in tact and if the water and sewage flows out.

Even a typical water heat replacement would set you back signficantly.There's plenty to the puzzle that i am unaware of but with what you've outlined here i would consider passing on the property.you know you need managementyou know you need to remove at least one tenantyou know cashflow is meager after considering management.i personally wouldn't recommend a client take on the risk for such a paltry pay out out of state.Even when considering long term appreciation the average amount of headache one assumes with a property will bog you down before the long term play pays off.

Hi William, we're right across the water in Brooklyn!