I could add a new separate switch outlet which would meet code but is less than ideal.

You apparently knew about these problems when you purchased the property so did you factor them in and now you are second guessing yourself?

Here's an example of what I'm talking about:Purchase price: $10,000Rehab (everything new): $40,000Total "all in": $50,000 (fully financed, 15 year note, 5%)Rent: $650/month.If I apply my normal formulas to it....10% maintenance (-$65)10% management (-$65)Taxes and Insurance (-$70)5% CapEx (-$35)NOI: $415Less debt service (-$395)Profit: $20/month.We haven't factored in vacancy.These are real numbers I'm getting from some investors in my market.

You probably aren't going to find any markets in Maryland with a lower price-of-entry then Baltimore, so if "low budget appeal" is your driving factor then focus on Baltimore and maybe Dundalk.  

I can factor a fixed cost into the lease or I can pay it outright but I can't split it each month. 

After you factor in taxes, property management (if needed), repairs, vacancies, utilities, whatever is leftover is yours to keep.

It is a complicated situation and not ideal but just exploring options.  

The zoning may be industrial but land use and other factors will determine whether you can build an additional dwelling, whether that is a house, garage apartment, w/e.

I'll have to factor the insurance component in my cash flow calculations a bit more, and it definitely narrows down price point for me.Thanks again and I'll update ya'll on my progress!

Hello All,I have been identifying properties in the Richmond area that I might consider purchasing but wanted to see what the average cost of certain critical factors were.