What is the condition of the property?

It needs some updates, but the tenant isn't concerned with the condition other than some minor repairs.

They 5 are: Character (reliability, integrity), Capacity (sufficient income or cash flow to service the debt), Capital (the borrower's net worth or how much of their own money they put into the deal), Collateral (the value of the assets that secure the debt), and Conditions (the borrower's situation and the state of the economy or local real estate market).

If someone buys your LLC, as opposed to the actual properties, they will assume your Current basis, and depreciation schedule, which will increase their taxes when selling.

Natural gas on the other hand seems to be turning up everywhere these days, so even without the potential for massive future electrical rate increases if gas makes much more sense, I'd stick with gas!

The initial asking price is what peaked my interest to go see the property knowing what it would sell & rent for in good condition but good grief that property was a mess.  

The housing authority insist the HUD limits prevent them from paying my requested rent or even increasing it at all, while the other authority had no issue entering into a contract for the requested amount.

What I like about this deal is, the major cap ex's have been handled, and there is still meat on the bone to increase the cash flow by filling the vacancies.

I just spent an entire day working with individual contractors and picking up supplies, and this is getting harder to do with increasing job responsibilities and planning for a baby next year.

People respond better to utility passthroughs than rent increases.