Hey folks- I am trying to get a list of the people this guy has defrauded to see if we can collectively do anything about him.  I continued to have faith I was going to get my money back (he is good at the sincere act...

Located in Garden Grove, California.

We are fresh to the RE world and have lots to learn.

@Nathan Williams you did not mention what neighborhood you are looking in but you should know that sewage in certain areas around Drexel Gardens are serviced separately by the Ben Davis Conservancy District and that bills will automatically be sent to the home owner as listed with the county assessor.

The area we are looking is near Winter Garden, FL.

Ok, now for the numbers:Asking Price: $425,000Taxes (CA): roughly 5,500/year, less if purchased for less. (458.33/mo)Current Rents: $825/unitVacancy: Less than 5% for last two years, only one turnoverNearby similar rents: $800-$950Property Type: Garden Style, single storyProperty Class: BProperty Location: BInsurance: Roughly $150-$200/moManaging: I'd be managing myself for at least the first yearI've ran the numbers and including cost of property management(even though the first year or so I'll manage it), and accounting for capex, garbage, maintenance, and all other related costs I know that with the loan being zero down and me living there so as not bringing in one of the four rents I'll technically be negative cashflow, and I know Brandon Turner and David Green would say what the heck are you doing man!?

So I will be adding new kitchen cabinets and countertops, as well as new roof, fresh coat of paint, little bit of landscaping for the back yard.

Does the depreciation start fresh on the 240K or now $8727 annually? 

They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint. 

Things like paying the mortgage, insurance, utilities, lawn/gardening service, etc.