As for your letters (more opinions are about to arrive) they are EXACTLY what I thought they would be; that regurgitated garbage everyone who pretends they are a marketer mails out thinking just because, "I have cash, I close quick, I buy As-Is, I, I, I do this, I do that, Look at me, me, me" people are going to call them up and throw deeds at them.No USP.

Sellers and investors know enough to look past the garbage posts of the masses and grab onto this opportunity I am presenting.

IF they have given you all keys, and are out, but just left a bunch of stuff there, it is considered garbage/abandoned, and you can charge them for removing it. 

I would also have the tenants pay for Electricity, Water & Sewer, and Garbage.

My numbers for repair, insurance, water/sewer/garbage come directly from the sellers expense sheet.

The property has $3K worth of unrecorded water charges (water garbage etc) – there was no way to know that before the auction because the charges were unrecorded.

For additional info, the crime maps show that there was a murder right across the street in May…So all that aside, here are the #s:Asking Price: $110,000 (dropped from $125K)Offering Price: $90K (based on lack of garage, seller’s expediency, past murder, vacancies and upcoming winter, as well as what I can afford to pay per month)Rent: $950 (once rented); Annual = $10,830 (5% vacancy)Operating Expenses:Water/Garbage - $1380Gas - $106 (altogether; split between two units)Electric (separate meters)Insurance - $1500Property Tax - $1,666Repairs (if needed) - $1600=$6252NOI:=$1998 AnnuallyDebt Service:$7104Cash Flow:-$5106 or -$425.50 a monthAs owner-occupant:$592 – MORTGAGEUtilities – $375$6 + $150 + $139 + $86 + $50 (electric; estimated)$1017 a month…doesn’t include repairsPROPERTY #2The second property is different.

But after running the numbers, estimating the tenant to pay certain utilities, not including Garbage/Lawn, and having variable expenses of Vacancy/R&M/CapX is at 30% of rental income, conservatively high, cash flow does not look too profiting to me. 

(A) A landlord who is a party to a rental agreement shall do all of the following:(1) Comply with the requirements of all applicable building, housing, health, and safety codes that materially affect health and safety;(2) Make all repairs and do whatever is reasonably necessary to put and keep the premises in a fit and habitable condition;(3) Keep all common areas of the premises in a safe and sanitary condition;(4) Maintain in good and safe working order and condition all electrical, plumbing, sanitary, heating, ventilating, and air conditioning fixtures and appliances, and elevators, supplied or required to be supplied by the landlord;(5) When the landlord is a party to any rental agreements that cover four or more dwelling units in the same structure, provide and maintain appropriate receptacles for the removal of ashes, garbage, rubbish, and other waste incidental to the occupancy of a dwelling unit, and arrange for their removal;(6) Supply running water, reasonable amounts of hot water, and reasonable heat at all times, except where the building that includes the dwelling unit is not required by law to be equipped for that purpose, or the dwelling unit is so constructed that heat or hot water is generated by an installation within the exclusive control of the tenant and supplied by a direct public utility connection;(7) Not abuse the right of access conferred by division (B) of section 5321.05 of the Revised Code;(8) Except in the case of emergency or if it is impracticable to do so, give the tenant reasonable notice of the landlord's intent to enter and enter only at reasonable times.

Scott that Jason provided above, and you will see that Scott mentioned that there are disadvantages of attemptng the calculation.Your software programs, any program (as everyone knows I'm technolically deficient lol) will boil down to garbage-in, garbage-out.The IRR is a budgetary tool to evaluate the return of a project compared to an alternative project or investment.