I won the bid on the house with an escalation clause at $390K - My monthly payment will be 2,295.12 + 250 for utilities.

Numbers :)303k purchase365 sale leaves you with 62k- realtor at 6% of sale = $40,100- closing costs at ~5k = $35,100- renovation at 8k (suspect) = $27,100- taxes @ 500/month for 4 months = $25,100- insurance @$150/month = $24,500- mortgage payment @$1200/month (20% down, 4.25%) = $19,700- utilities @ $250/month = $18,700Skinny deal.  

Who is paying utilities?  

As a buyer, I need to know what I can build thereI also want to know about utilities, are they availible at the property. 

This was the first purchase we made, and as of now, we consider this a success.Purchase Price: $69,000Closing Costs: $3,200Rehab Budget: $55,000Actual Rehab: $94,000Carrying costs (utilities and grass cutting): $500Total Investment: $163,500ARV: $ 205,000Cash-out: $ 147,000 (after finance closing costs)Total Cash Invested: $ 16,500Rent: $1595/moWe found this VA foreclosure on the MLS in March 2014, with a list price of $89,000.

At a minimum you'll need to make sure the tenants are paying ALL the utilities if you want to make any money.REI is a good thing.  

Anything else you can think of is paid for (I live rent free, all utilities covered, vehicle free, etc).  

Project update for our single family colonial flip in Plainville, ConnecticutThe hardwood floors in the living room, dining room, and front entry way are in the process of being refinishedthe entire upstairs is complete The shutters are up and the front door has been paintedthe kitchen has been demoed, utilities have been relocated for the sink, and the kitchen has been painted as well.tomorrow the cabinet install will start and should be completed by ThursdayOnce the cabinets are installed we are having the granite coming out to template the counters on Monday and are hoping to have them installed later next week.  

In fact based on the phone interview, application data and reference checks you should have a firm grasp on who this person is, the credit report is a factor in my decision and is utilized to validate a lot of the information already provided; if it doesn't match or is incorrect; See ya!  

Taxes- $1,312Sewer and Water- (paid by tenant) $90/moTrash- $0Heat/Utilities- (paid by tenant) $130/moHOA- $0Cap Ex and Ops (my personal minimum is $150/roof/month)- I had planned on 10%.