My husband met a laid off oil worker at a restaurant on Friday who needs to sell his house ASAP.

In my area it's slow...oil is down..many out of work so it's a buyers market.

@Colton S.Tenants can work on cars but what if they get oil everywhere etc?

When I was living in downtown Dallas from 2006 - 2011, the economy was still recovering from the oil bust and savings & loan crisis from the late 1980s.

See also https://www.biggerpockets.com/forums/585/topics/269437-20-oil-and-non-houston-markets

These are the folks who helped me make lemon-aid out of 40 lemons... 

And this was in Ontario, which has no bearing on the oil sands.  

Add In the cash flow eating dues and any macro factors (oil at forty bucks, condo supply, etc) or preference for sf and it could be a number of things within the association or outside it...

Renters are low income, Section 8 in the smaller 2 BR units, large and/or extended family living together in the very large (4-5 BR) unitsPurchase price 265KLoan 265K, seller pays5K closing, 4.67% interest rate for 30 years, $Taxes $4251Total rental income $4665 month (1 5BR unit, 1 4BR unit, 2 2BR units) – rents are maxed for this area, they are high because of the size of the units, they all have washer/dryers, and small dogs/cats are allowed.Area average vacancy rate 14% Property management 10% of rentProperty insurance $1800/monthMaintenance $5300/month (I budgeted high, deferred maintenance on this one, will take a while to catch up)$281 annual electric for common areas$1388 water/sewer$2400 annual Cap Exp (estimated roof life as of now – 20-25 years, heating system – 15-20 years$6100 heating bill (oil) last year20 K is needed to repair foundation issues and one bathroom in need of repairs (I'll pay out of pocket next spring).Your thoughts?  

.$0.23/lf for shoe mouldingI like the $25 a gallon oil-based gloss paint sold at Walmart (rustoleum brand)