Usually AC units will do for the cooling source in most areas though.

However we  don't see pics of the kitchen or the extent of water damage. 

RE losses are there to make you hold ground and tread water tax wise and limit your income tax liability *from the RE business*, so you eventually pay capital gains (long term) at sale or even better, 1031 into something else without paying any capital gains then.

HOA dues are around $315/month and that includes water and utilities. 

., @Lisa Graesser, @Lucas Carl, with installing all this cool technology, are you able to charge a premium for rents?

Almost all new plumbing plus a new larger water main.

There are all sorts of cool things you can do with this investment vehicle, as I’m sure you are learning from your research and experience.

That's exactly what I was thinking, but definitely wanted to check before I got in any hot water.

Looking for.Architect/floor plannersDemo Crew (existing home)Excavation (For basement foundation/geo thermal heating/cooling possibility)FramersRoofers

I’ll review financials from the current owner but assuming the tenants pay water/electricity shouldn’t I be able to use the math above?