On the other hand in-unit utilities (i.e. electricity, gas, water, etc.) will depend largely on occupancy since a vacant unit won't use any.If you're doing a charge back for a portion of tenants' utility then it will also depend on occupancy since it's likely a percentage of the expense (depending on how your metering is setup).

In just under 8 weeks we completely renovated the entire property: roof, stucco, windows, doors, trim, flooring, granite, stainless steel, new bathroom vanities, tile tub surrounds, pool equiptment, furnace, water heater, and so much more!

For those of you doing direct mail, SMS texting , Cold Calling or RVM - wondering if anyone has head of a data provider or list provider who can provide a SPECIAL list or data info on municipal water departments water turn offs / or where one or some of the following might have happen: 1) Water Meter was locked (Not Public Record info)2) Water Utility Department is owed funds and thus a lien might have been placed against the property (now Public Record info) This could be fertile ground and an indication of a more serious problem associated with a property. ~ Michael Morrongiello

You should see if the seller will lower the price.....THEN when you close on it see if you can raise rents.Just because it was built in 1989 you never should "skip over" fees such asProp Mgmtvacancy  (Yes it is occupied now but it won't always be)insurancerepairscapexof course debt service (mortgage)lawncare, cleaning and maintenance (Different from repairs)trashDo your tenants pay for water and sewer? 

I'm afraid that the high probability of a lot of water won't make it a good candidate. 

Plumbing piping, hot water heater, etcHVAC?

Housing will cost more due to water and sewer development.  

I dig up all the information I can find(property taxes, sewer/water, closing costs, purchase price, everything.

Here are the particulars....House retail market price:  66K (I think it may sell for 60K)Repairs:  15K maxOwner mortgage left: 36,500     interest: 5.00%Monthly payment: 826.00Est Rent: 900  (minus PM fee: 90, minus water: 50)  ~760 profitWhen working to make the deal I knew they had a monthly mortgage and had one year left (I assumed at worse 2 years.) 

Water, for instance, I pay about $175/month to $225/month in NYC, and yet for a SFR in a neighboring town, in Nassau county, they charge $50 - $60 for a 3 month period, or $20/month.