I have been presented with the following real estate possibility and I am open to suggestions, opinions and/or advise.Home #1- SFH is Brick 3bd/ 1 bth- 1100 sqft-2 Car Garage/ No need for Rehab-Currently Rented at $735 a month with long term tenants paying all utilities-Estimated Market Value $50KAnnual Taxes $500.00Home #2-SFH is Frame 3bd/1 bth- 1000 sqft-No Garage/ No need for Rehab-Currently Rented at $600 a month with long term tenants paying all utilities-Estimated Market Value $30KAnnual Taxes $778.00 Both homes are being offered as a package deal for 45K Cash.

The rental units would cover our mortgage payments and some of the utilities so we would be living for "free" right off the bat, unless of course capital expenditure disaster happens, then we would be paying.

Pay only $400 for rent and we share the utilities and cable. 

Utility bills.

With that, and utilizing the resources here on BP on a weekly basis, you would be in a much better place in 5 years IMO.  

A tenant can invite any inspector inside to determine if they have safe living conditions, like the fire department, health department, building regs, utility company, let them "tag" the place, you're just concerned about your safety! 

Maintenance, utilities, etc. usually run about 50 to 60% of income on 10 units.If these are C units or in a C area, exp are going to be even higher. 

I plan on utilizing my VA loan with a no down on a multifamily and like Grant said live in one and rent the other out.

Possible rent would be 750+ utilities.  

Since rent is late, you better check if she is current with the utilities.