Here's a snippet about this subject I wrote some time ago: Two-family owner occupied Rental income from 2 BR: $650 per month or $7,800 per yearTenant pays electric, you pay heat, water, and sewer.Expenses: 8% each for vacancy, repairs and management (even if self-managed) Vacancy$593 (based on national avg 8%)Repairs$593 (based on national avg 8%)Management$593 (based on national avg 8%)Capex reserve$390 (5% set aside for "big" repairs like roof, heating system, etc.)Sewer & Water$520 (avg for area)Oil$2,800 (avg for area)Insurance$700 (avg for area)Taxes$1,750 (avg for area)Mortgage$3,891Total Expenses$11,830Cash flow negative $4,030 per year or -$335.83 per month So your total out of pocket for housing expense is about $350 a month.

You can 1031 vacant land to oil and gas rights.

I currently work rotating 12hr shifts at an oil refinery.

It would be great if there were no snake oil salesmen and you could trust everything you read online, but it just isn't the world we live in, so due diligence is the price you pay for a successful passive investment.Steer clear of anything that guarantees tenancy terms (can't be predicted or promised) or excludes any expenses in their ROI calcs. 

Then the snake oil sales man tells me he closes in less than 3 days!

Last, what is your take on the slowdown/loss of the oil jobs and how that has affected the market.

Thomas S.Sorry for such a late response to your post, I work in the Oil Field and have very spoty cell service. 

Not only is it an amazing resource it has a positive flow and gives warnings about GURU's and snake oil salesmen.

I am hoping to pick your brains on a strategy when negotiating a deal with a REO property with an inactive, underground oil tank on the property. 

No stain, No oils, No fumes.