I've lived through the Cuban missle crisis, the assassination of John Kennedy, the assassination of Robert Kennedy, the assassination of Martin Luther KIng, the Cold War, the "Jump the Shark" of Fonzi, the gas lines of the early 1970's, the Watergate crisis, the end of Gilligan's Island, hyper inflation, Jimmy Carter's "Malaise", race riots, hurricanes, earth quakes, 9/11, 2000 crash, 2008 crash, good grief, I can't go on, too many to mention.Yep, the economy survived, I'm still here, the world moved on ( except for walkmans now selling for $32,000) and nowhere was I promised a free ride or an easy life.As they say in "Men in Black" "Kay: "There's always an Arquillian Battle Cruiser, or a Corillian Death Ray, or an intergalactic plague that is about to wipe out all life on this miserable little planet, and the only way these people can get on with their happy lives is that they do not know about it!"

People stop here for food, gas, and whatever else they see on Hwy 160.

Here is my analysis:Rental Income: $1,500===================================================================Expenses:Taxes: $168Insurance: $35Water/Sewer: $0 (Tenant Pays)Garbage: $0 (Tenant Pays)Eletric: $0 (Tenant Pays)Gas: $0 (Tenant Pays)Hoa: $67Vacancy Rate: $150 ( I do not know what the actual percentage is, I just used 10% because that is what you put for one rental property in spring and I just multiplied it to the rent $1,500)Repairs: $100 (Home has been recently renovated and I doubt there is anything that needs any repairs)CapEX: $100 ( I don't really know how to calculate this!

The only major concern we had was an obvious gas smell concentrated in the basement.

cheryl, are we debating cashflow vs apprecation, or are we debating the validity of the 50% rule?

I emailed the property manager about the situation and he responded "what time where you taking out the trash" as if he was suggesting well you shouldn't be taking out the trash at 12 am thus her noise complaint would be valid...

If things get bad I should be able to sell at a profit (and strip out the natural gas rights).

Since the house has gas, I want to make sure everything is good and sage.

Gas is already $0.20 higher per gallon than other states and real property taxes for 4 acres is over $30K/year.

Anyway, I am going to get the exact rent rolls for this building and ask for copies of the gas and water bills for the last 2 years along with the tax returns, which he agreed to show me this Saturday.