Then again when away on vacation I did get smoked by another HVAC company for $2300 to replace a 40gall electric HW tank with a new dedicated circuit to the panel.

I have wells and septic tanks in most of my rentals in Ocala and Morriston, FL.  

And when the economy tanks, my properties are in higher demand because not as many people can afford A and B class rentals to stay at.

The investors there are in the shark category - they know their stuff.What are the details of your 55k offer on a 61k property? 

Environmental concerns - manufacturing, underground storage tanks, etc.Was there an active bankruptcy case for the owner when the sale occurred that could void the sale?

That and a hot water tank just busted. 

If I had to speculate on the dollar I'd say short short term bull run before going back into it's tanking trend.

(The tank in back will pry be empty too.) if it does still moves at least you eliminated them from the cause.

I looked for mortgage interest calculator and found this and it turned out that for the first five years interest would come to 3500/ year ...I heard back from the listing agent and condo fee covers ground maintenance, exterior maintenance and the water portion of the utilities.and the homeowner is responsible for the electricity, gas and hot water tank rentalheating/ cooling is baseboard /electricity ... so I think I under-estimated the utilities I have to have another look at this .. 

PM make or tank your business.