I dont expect bay area appreciation, this is purely for cash flow.

Our only other significant monthly obligations are water and electricity.

Looking for buy-out, rather than incomePut in a new water heater.

You can look up the local utility company and call them to find out the cost of water and sewer.

Do you know the exceedence interval that estimate is from (e.g. 100-Year Flood = 1% chance of water reaching that elevation in a given year)?  

. $1,200 to $3,000.I don't do major electrical work or major plumbing, however I will install new hot water tank and new air conditioner unit and or heating unit only if needed.SO therefore on the low side my quick estimate is $8,400 and on the high side $31,000

I'm with Jesse--the problem with the 2% rule is it ignores anything but pure return. 

The following are a list of thing that are mandatory:- A/C units (will need to purchase two since this is a two story house in FL)-Kitchen (old kitchen cabinets have had had major water damage, counters are broken and will need new appliances.)

I have to pay water on my 4-plex's since that's what the market demands.Hope this helps.  

Anyone have any good experiences with any companies or private installers?Thanks in advance for your help.