I have capital that has produced disappointing results in convential investments  I am considering investing 60 - 80 K all cash on a town home rental  this will give me a chance to test the waters and see if I want to go bigger  jay

For this property, currently water, sewer and trash are owner-paid.So, here's my question: how can I convert water, sewer and trash over to tenant paid as efficiently (and fairly) as possible?

I recommend minimum 4 coats with poly.  2 seal coats with buffing between and 2 final coats  You can use water base as  well if you prefer, finishing will dry faster allowing for more coats.

When qualifying a property, why does it matter how much it is under water if the bank will still only be able to get the highest bid at auction?

1) Scrape popcorn: $25002) Add a tankless hot water heater: $2500 (opens closet in house and resolves code issues with existing tank)3) Pergo XP flooring through all house besides bathrooms

It was designed with one meter for heat and one meter for water/sewer.

(I type the street into Redfin/others and it keeps giving me comps within certain close neighborhoods).A house I'm going to look at tomorrow is in a little niche area on the water/with a view along with 80 other houses of the same ranch style.

4plexList $89,900 (Following figures are based of purchase price of $82,500 cash deal)Income $2540Vacancy reserves 20% (that's what most banks around here use)Capex 10%maintenance 5%No PM expense/reserve as I would manage myself.Taxes $4000/yr Insurance $100/moFlood Insurance $100/mo (on the very edge of flood zone)Garbage $100/moHeat allowance of $300/mo (the remainder of the bill divided equally between the 4 units until I can separate heating by units)Water $135/moCash Flow $582/moI don't plan to touch any income until I find another property and then would probably refi cash out for down payment on the next property.Any insight would great. 

I'd tie it up under contract immediately, and do some proactive due diligence on it.The biggest "hidden" cost in most deals is the ramification of private water and sewer, which this deal does not suffer from.

Sounds to me like wading through some very murky legal waters here. . .