Since the units are not the same size, I just bite the bullet and pay for the water. 

In regards to bullet above, when the bank looks at my Debt/Income Ratio will they be factoring in the rental income that I would be making on the condoI am questioning whether or not it is worth thinking about buying this condo under an LLC:Will buying under an LLC allow me to not show the debt in my personal balance sheet or does the debt flow through the LLC to my personal balance sheet? 

You will have to bite the bullet on this one.

I would suggest starting a new thread and bulleting out all the details - you'll most likely get a flood of replies!

yea they fight the contractors for you, its a totally painless experience. sometimes they just bite the bullet contractor keeps the money and amex just reimburses you anyway

To get there, at a minimum you will have to:Repair the 11existing homes x $15k per home = $165kHunt down 7 used homes, transport, set up, make repairs x $25k per home = $175kSell all 18 homes to qualified tenants (you will likely have to carry paper on the homes, which will eventually return the capitalization above, but assume it will take 5 years or more)Repair the park infrastructure, roads, signage, the residence, landscaping, etc (let's assume you will spend at least $50k on this if you are lucky, though it could easily turn into a lot more) The bullet points above will likely take a couple years and it could take double that, depending on how aggressive you are, what the availability of good labor/contractors in Indy, and what kind of demand exists for that location.  

Bathroom is in much needed work and biting the bullet to renovate it.

Look I would only use the 1% rule as a minimum gage in general and I would want more for me personally . no ,I don’t need a bullet proof vest or ak47  to collect rent lol and yes You are certainly going to have more challenges and yes it’s going to be hands on management  to operate in these areas .

If none of these ideas work, you may need to just bite the bullet and sink some money into marketing.

My motto is "if bullets are flyin' I ain't buyin".Then I narrowed things down to two or three cities in each state and then sectioned the cities into zip codes.