I'm looking at starting a maintenance &Cleaning company to run parallel with my Property Management company.

Expense/Net SheetMonthly Income $7,070.00Monthly Expense Utility $190.00Lawn Care/Snow Removal $25.00Trash Removal $67.00Advertising $0.00 Craigslist and signage in yardInsurance $235.00Odd/End Repairs $75.00Total $592.00Yearly Annual Income $84,840.00Yearly Annual Expense $7,104.00Property 2014 Taxes $14,844.46Yearly Profit $62,891.54Unit Bedroom Bath Stove Fridge Dishwasher Microwave Washer Dryer409 #1 2 1 Y Y N N N N Y 2008 2001 2002409 #2 2 1 Y Y N N N N Y 2008 2001 2002409 #3 2 1 Y Y N N N N Y 2008 2001 2002409 #4 2 1 Y Y N N N N Y 2008 2001 2002401 3 2 Y Y Y N Y Y N 1997 1997 1997403 3 2 Y Y Y Y Y Y N 1997 1997 1997405 3 2 Y Y Y Y Y Y N 1997 1997 1997407 3 2 Y Y Y N Y Y N 1997 1997 1997Garage and Common Area Electric is paid for by Landlord *I assume this is the $190 / month utility figure listed in the monthly expenses.*$208/quarter for dumpster *I'm not sure if trash collection is this or if we have to add another $70 per month for the dumpster.

Is it on master meter gas or electric?

Add on the $300/mo HOA and it's DOA.If I were buying something I later wanted to rent out, I would be in a blue collar neighborhood of detached 3/2's with vans in front that say "Joe's Plumbing" or "Ethans' Electric".  

The former owner had put in all new drywall, all new windows, all new plumbing, heating and electric, new siding, 2 new full baths and a new kitchen. 

The job is a 20-30K job I don't see how that would be a small job. majority of the work is painting, windows, and electrical 

What he is offering is:-His team will do the due diligence on the title to ensure it's clean-acquire the property from auction with room to make 20-50% profit-provide actual comparables-consultation prior to auctionHe wants a non-refundable payment of $2500 to set up an account and the $2500 per property making it $5000 up front (in addition to actually financing the properties in question).

It is only refundable if a clean title can not be provided.

He passed away a few weeks ago and i walked over to speak with the family who is here this week cleaning the house out.

This will be my first time undertaking a project that requires substantial work (all new windows, kitchens, baths, re-configuring walls, electric, plumbing, roof, exterior), so lacking experience with such a project I would welcome any helpful feedback.