You just have to adjust your game plan to that market.  

Utility InformationEnergy Source: ElectricSewer Connected Financial InformationCash OutAnnual Taxes: $8,773Tax Year: 2014Cap Rate (NOI/LP): 7.57Gross Rent Multiplier: 6Total Monthly Income: $8,870Gross Scheduled Income: $106,440Gross Adjusted Income: $95,796Net Operating Income: $47,722Insurance Expenses: $3,400Water/Sewer/Garbage Expenses: $7,833Other Expenses: $28,068Total Expenses: $48,074Total Expenses: $48,074           

I don't plan on this being a live-in for right now, but depending on the numbers for the various properties I'm seeing, I might have to adjust that plan.You're right, the capex and repair numbers should probably warrant a closer look.Thanks for the tips!

And if I sell the agreement to a flipper, should I add/adjust the cost too?  

You have some very interesting possibilities to eliminate a great deal of the tax on profit and defer the remainder.In your immediate situation you will pay tax on the difference of your basis as determined by your cpa when you bought the property and the selling price with any adjustments for capital improvements or untaken expenses.  

If it was a single family home renting to students I might have them handle the lawn, and provide a push mower- the type with the blades driven by the wheels and no motor.  

They have offered a 10 year term with a 30 year amortization fixed at five years at 4.875% adjusted to the 5 year LIBOR swap plus 3.0% with a floor of 4.375%.The property is fully rented grossing $6,300 per month.

We are not sure what we should do and will have to adjust our policy as it does not cover missing information as we have never had this occur before. 

I would just like to copy one and adjust the parts I need to fit me.

Are we talking a lot of $$is there maybe somewhere in the middle, like keep property as-is, but make a slight upwards adjustment in rent.