I had no luck with hot water tanks, I depreciate it over ten years, and they only last 5 to seven.

Oh well, you can lead a horse to water, but you cannot make her drink.

We're closing on our first rental next week and going to challenge ourselves by being the property manager.We're going to have the tenant pay thier own water, sewer & trash.What's your experience with the tentents being responsible for it?

And for the sake of conservatism, let's guesstimate that the total expenses of the property (maintenance, water utility, property tax, insurance, management, and vacancy) will equal 50% of the monthly rent, or $250/month in expenses.So, thus far, we would be earning $250/month, or $3,000/year.

. - Yes Keith - it's that way in small town KS and some of the other flyover states - but you'd have to visit to get a feel for the area - if you are from/live in NYC you'd possibly die from culture shock -- I think small town KS is cool and appreciate it - but these areas are in different solar system compared to large metropolises. 

My tenant here in Thousand Oaks, CA stopped paying rent and also stopped watering so the grass and landscaping is damaged.

Property's on city electric and water but has in ground septic. 

I feel that the reality of it lies somewhere in the middle of the two.We found:One Rafter in the attic that was split about 18" from centerline down the roofOne water damage repair previously made by an owner to the floor joists in the crawlspace under a sloping wall.One water damaged floor joist that is literally crumbling in my hand. 

What do you do when your tenant doesn't pay rent and your water heater goes?

You the landlord is only responsible for providing a safe and comfortable living environment, clean water and heat to your tenant.