Many of the items on the list of violations are fairly normal stuff (i.e. light fixtures replaced, new electrical outlets and covers, add GFCI's in wet areas, replace some screens/windows, water heaters).

I agree that there are plenty of MFH properties in Connecticut that are completely outdated (electrical, plumbing, etc.) and run down but the landlord still wants top dollar!

I work full time for an electric co-op and play a lot of golf on the weekends.

The 50% rule is a good way to quickly pencil something out on a napkin but to do some real due diligence, you need to know what the taxes are, who pays water and gas/electric, how much that runs, what the real rent is, not what you're thinking it should be.

All three units have separate utilities with other two tenants paying their own way with electric and heat as well as with market rents.

Specifically, the deal we want will cover all operational electrical expenses and potentially the capital expenses for reshingling prior to project start .

I'm going to seal/close the chimney part and insert an electric fireplace.

It seems the law allows other "utilities" to use the franchise utilities' facilities to deliver their electric or gas or water or whatever.

Maintenance was estimated at $1.10/SF and I used a 6% vacancy rate:Gross Scheduled Income $71,280Vacancy Allowance* ($4,276)Gross Operating Income $67,004Operating Expenses: Property Management ($7,128) 10% Gross Monthly Rent New Tenant Fee/yr ($2,970) ½ Month Rent per unit Property Taxes ($6,645) Insurance ($5,698) Maintenance* ($5,322) Trash Removal ($1,896)____________________Net operating Income $37,345All units have independent wells and electric meters.

Just throwing this out there as an owner of a 98-year old house, and with the admission that I am NOT a landlord or familiar with tenant laws there....Are the plumbing & electricity up to code?