I distinctly remember there were things they did with the hot water heaters, and they were advocating replacing the rubber hoses on appliances that use water (such as dishwasher, washing machine, etc) with some kind of metal hoses that are virtually indestructible.There was a goldmine of information about good preventative maintenance steps for rental houses...

Say a guy has a car worth 10k and owes 10k.....he's going to fight for that amount because he doesn't want to go under water at sale.

They always lived below their means, invested every penny in rental homes but their most admirable deal is something more exotic than anything I've seen or read (so far): they bought a water mill (river La Seine, 2 hours upstream of Paris).

You would need appraisal and/or inspection to make educated offer, 15K sounds too high with tax lien, the next thing you know there is 1K water bill, or some other problem :), these type of houses I would make low-ball offers.

In the past, I have used my w-2 income for food, fire and water and my real estate flipping income for wealth creation.

Either a refiance, Home Equity loan, or home equity line of credit. the numbers are property 1:  15,000 tax lienas is value 65,000 arv 70,000Property 2 3,000 water tax lienas is value 55,000after repair value 95,000what are the pros and cons of the types of financing?

Most 4 - units are shared water and that can run up your numbers.

Hello Casey Nordendale I agree with Curtis Waters Hobby millionaire is a good action oriented group.

Another gotcha is if you the landlord pay utility bills for the tenant included in the rents.You could have no water leaks and the utility company decides to go up 10% on the per gallon usage rates for water and sewer now that they think the economy is doing better.

I will manage these buildings, I currently manage another 4 unit building in the same area and know with updates the total rents could increase $3-4$k/yr.Current Rents:  $3900/mo $46,800/yearVacancy: 10% $4,680/yr (actual vacancy rate for area is below 5%)Taxes: $3838/yrInsurance: $2840/yr for cash value not replacement cost (getting more quotes)Maintenance: $4500/yrUtilities: $6,500 (owner currently pays common electric, sewer/trash, and buildings are on well so softener salt and electricity for water pumps.)Budgeting $5k/yr for capexLeaves: $19,442 for debt and cash flow