You only have to look at this thread to see how many people are stopped in their tracks by this issue.The only issue is to get the property at a price that reflects it's undesirability with all the utilities as one.

The structure should reflect that risk allocation.

The contract does not have a clear provision for rent increases.The rent has never met the 1% rule, but it did reflect market rent initially. 

Im still learning too so dont have alot to add but don't forget beside the hvac, electricity would have to be rewired as well so the meters or circuit breakers would be reflected accordingly.

Tuam in 77004 is lower area then Montrose area we previously discuss.The feedback im seeking is about the buying criteria and end Cash on cash.If one doesn't allow for the minimum 8% for Maintenance + 8% for capex + 8% vacancy + 10% for property manager + HOA, + work that require on purchase... then the numbers looks much better - But that doesn't reflect the REAL cash on cash picture.Any further feedback would be much appreciate, please keep the discussion going.

If your post is a reflection of the overdrive your brain is in, I feel for ya !

I'm closing on a 4-unit in 3 days and just today got the closing docs updated to reflect the prorated amount of rent for remainder of August and the deposits due to us.

If the property was sold through the MLS, befriending or paying a realtor can get you the information If the sales was not MLS and you feel like an owner occupant more than likely bought the house,  you can go to the County Clerk website and the Deed of Trust will reflect the amount of the loan which in many cases is very close to the sales price 

That way I can confirm that their work or school records reflect the same address as their previous landlord.Also, when you do their credit check, the potential tenant's address should pop up.Hope that help!

To my understanding the property tax appraisal would reflect the purchase price of the home?