We bill back all the utilities and simply put it in Excel to provide a monthly bill for them.

If you do not pay off within the 6 months, we keep that 3% as an extension fee for another 6 months.

Yes I have seen section 8 be in a constant flux of change.If the tenants income increases then section 8 adjusts the voucher amount.Also here you can list in the lease that the tenant pays a certain amount of utilities and that is fine.Some section 8 areas they will pay 800 for a 2 bed but then all of a sudden readjust to start only paying 700 which is not market value.These section 8 tenants never make up the difference from what I have seen.So you accept the lower rent or evict them and get a regular tenant for 1,200 more a year in cash flow.I don't know with the election and many government programs in flux how stable section 8 is currently.Might be a bad decision to base many of your renters off of that income stream.

How extensive is the Mold condition?

Be sure to take in as much as you can, this site has a wealth of information that can help you get started the right way if you correctly utilize it.

The repairs look to me to be extensive but I can't put a price on it.

Service was off already, and utility company fixed it right away.So far they are paying the rent (no utilities, though, I suppose), but I was wondering what your process is.

Reality is far from the guru speak.As an example, buying a note originated prior to the land mines being tossed out, would be fine, understanding the process which is not difficult but it is the valuation and collateral assessment that needs to be studied and understand that you may not be able to modify that old note, as a new modification or extension of debt can be seen as making a new loan or lending arrangement.

As a Realtor in my local market, I still utilize different agents (even agents outside of my company) to help for our flip business.

I'm not factoring in utilities in these.