If you buy a hot water heater for the other unit, you can write off 100% because you have no personal use of that hot water heater. etc.

Coos Bay - The main delay with application in this area is whether the property is on public utilities or has a septic system and private or public water source.

Water damage is one thing but getting smoke smell completely can be tricky! 

water heater? 

However, i dont want him to be able to sue me for "the water heater isnt working" "the ac isnt working etc..."

An auto body shop across the street that "stores" cars needing work there.Since abandoning the home, major landscaping would also be needed to clean up the walkway to the water.

That's' the resistance point. in markets I work for new builds inventory is still historic lows so many are just sitting on their low rate and just staying put although they would like a nicer home.

Where do you suppose the water will go?

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

Then things went south...I decided to gut the rest of the basement since it got water damaged from the foundation issue.