Realistically, once you get a tenant in place, with the right processes and systems set up, the time commitment can be pretty minimal, whether you self-manage or hire a property manager.  

What unites all of them is a phenomenal economic growth phase (for midwest standards anyway) and haveing a large body of fresh water just down on the beach.

@Cara Lonsdale, I didn't know its going to affect it THAT much. we don't have the same system in NZ. 

Realtors can get into a lot hot water especially you turned down other offers and found a buyer yourself.

Other expenses include water @ $100/mo.3.

Contact an experienced "Mortgage Broker" for low down payment Investor loans as we can usually blow nay "direct lender" programs out of the water and all the "direct lenders" know this to be true!   

how would you work the electric, heat, water per unit?

Currently renting for 1 unit for $800 and the 2nd unit for $900, tenants pay all utilities except water with no leases in place.

Currently renting for 1 unit for $800 and the 2nd unit for $900, tenants pay all utilities except water with no leases in place.

This will depend on the age of major systems like the roof, HVAC, Water Heater, etc.