Hello everyone,We looked at a property that needs some repairs (new water heater, washer/dryer, dishwasher, paint, flooring, kitchen counter-tops, cabinets).

I do have comps of  the area and own a house 2 houses down from this property, so I know what the property is worth, but most properties aren't water font in the area nor are they this large so it's a little different. 

At 100 doors that is about 46 a month for water and sewer.

@Joshua Nudell isn't right about the expensive lesson yet, but he could be at any water leak now.

I had a similar situation with a tenant trying to take a water cooler ( Big one on outside of house) Said she paid $500.00 for it.

The workshop/garage has gas, electric, water & sewer running to it all metered as part of my home (Not separate). 

. $60,000 Purchase price$155,000 rehab$ 3,575 / month gross rental after rehab on apartment building (not including the 4,400 sq ft building) expenses; vacancy = 5%; Repairs = 5%; electric for common areas =$50 ; Water/ Sewage = $100 ; Garbage = $89 ; insurance = $200 ; management 8% =$ 286; Property tax = $250 ; misc = $125P& I =$1,667 Monthly cash flow on apartments = $345 plus I have use "free" use of the 4,400 sq ft building (which is my main goal in the deal

You're not going to find any sort of a 'buy a duplex and have the rent of one half pay the enitre mortgage'.For example, when we moved to East Sac, we bought a fixer upper high water bungalow, and completed the basement conversion into an apartment.

My inspector went to do the inspection today but the house was never dewinterize and when he went to turn the water on it started gushing out from the wall between the utility room and kitchen.

Keep your eye on the costs involved and while your at it check out the well and the water quality as you don't need any more surprises.