Also, all utilities are separately metered.

Here are the logistics of the property. 4plex3 2bed 1 bath - $4751 1bed 1 bath - $400Coin Laundry - $75Monthly Gross = $1900(one unit currently empty, two tenants long term older people)Expenses (that they gave me) Insurance = $1891 (2013)Prop Tax = $1684 (2013)Snow/Lawn= $1220 (2012/13)Garbage = $700 (2012)Utilities = $1550 (2012)Heat = $2000 (2012)Total Expenses = $9045 ($753.75/monthly)Cost $125,000.Needs new siding (not going to repaint it), and paint windows.

Financing takes to long to put into place 3) you can't cut on any utilities.

Do tenants pay utilities & are they separated?

I'm going to have to learn a bit about how to utilize technology and network with others to minimize the distance risk.

Jetted tubs are a turn on even though they are not utilized as much as people imagine although they set the mood for some prospects.

This is important because I'm currently utilizing traditional financing, and am therefore hindered by the time it takes to save for each 25% down payment.2) I have a realtor there whom I know and trust on a personal level.

All in all though, think we raked in a solid deal.Please review my numbers and let me know how I did.Purchase price: $92,900 (all cash)Closing costs: $1,800 (inspection, survey, etc)Renovation costs: $22,000Holding costs: $1500 (utilities/taxes/insurance)ARV: $160,000Closing costs: $8000 (realtor commissions)Net Profit: $33,800!

Also, if you were converting to city sewer, you have to dig and lay pipe to the road and then the utility company will charge you a hookup fee (I think it was $600 here but dont hold me to that).

This is to offset your increased utility costs.