They do have a sump pump installed yet there was enough water damage to ruin the carpet the first time, and the brand new carpet is now under water.

As far as expenses, I just use a simple Excel spreadsheet and an old school notebook to write down info about each house (if it's on well or septic, city water, which electric company, school districts, etc.).

You have 4 sets of appliances, water heaters, etc.

If a water pipe breaks and the place floods, you would have to move out while renovations take place.

Real estate investing is the new cool thing to do.

Lots of really cool cities with good markets to work in.

It was also much more expensive than I had originally been quoted.Then I purchased blinds for the property and went down there and installed those.Then we saw that there was water damage on the window sill.

The problem is we have approximately 2 weeks of travel coming up for July, and we need time between their tenancy and the next to do some updates (paint, new flooring, new water heater), and I don't want the house to sit vacant while I'm out of town.  

Can you get coin op ones to break even on the water and electric?

How much do I need to profit on top of mortgage and all bills to make it worthwhile.2.What do you require tenants to be responsible.I am in the northeast and its cold do you require them to pay for heat, hot water, electricity, water, sewer etc.