They seemed good but said almost all their properties are in the $100k range.

I checked appraisal values and its anywhere in the $90-$100k range so I dont think an assignment would work here. 

in the new tax law to write off a hot water heater in one year? 

Biggest item unless direct billed water/sewer is that there isn't any expense for that in this line items.  

These things can get ugly FAST, and you don't want to get wrapped up in it.I once purchased a home at trustee sale where the previous owner had been stealing water....to the point of litigation. 

Payment was made promptly to repair the damages but new carpet & padding was just placed on top to cover the extent of damages underneath without actually repairing.There was water leaking at the front of the home.

I currently have about 100k equity there.2016 capital gains income: 02016 business / gambling income: 25k2017 capital gains income: 152k2017 business / gambling income: 28kChecking account balance: 100k+Credit score: 730Investment property price range 165k - 200k.I can get letter from CPA stating I've been in the same business since 2010.I'm being told they will take either last three years of capital gains or last two years of gambling. 

have a solid idea of your market ie rents, types of tenants, property taxes, sewage and water rates, insurance rates, cap ex and maintenance expenses, good parts of town vs bad parts of town.

I am going to put an offer on a bank owned REO, but the issue is that all the utilities, i.e. heat, water and electricity have been shut off.

There was a small amount of water in the front of the house basement area which I attributed to negative grading in that area.