Having said that I know someone that has personal contacts in the Oil and Gas industry and from what I gathered is that if the oil prices continue to remain low for the next 6 months we will begin to really see the effects of it in the Houston market.

Purchase Price: $350,000 Total Pads: 37 Rented Pads: 33 Acres 14.32 Lot Rent/month: $200.00 Water - Well All Tenant Owned Homes Sewer - Aeration Jan Rent Roll: $7,000.00 Rent Roll/Year: $84,000.00 95% Occupancy 2015 Rent Raised $20 Income * Rents: $84,000.00 $91,700.00 Animals/Late Fee's Water Sewer Subtotal: $84,000.00 $91,700.00 $0.00 Total: $84,000.00 $91,700.00 Expense: Taxes: $6,513.00 $6,513.00 Insurance: $1,600.00 $1,600.00 Read Water Meters $2,400.00 $2,400.00 Water $3,100.00 $3,100.00 Sewer: $8,300.00 $8,300.00 Trash: $6,000.00 $6,000.00 Electric: $2,400.00 $2,400.00 R&M: $2,500.00 $2,500.00 Mowing $1,500.00 $1,500.00 Snow Removal $1,500.00 $1,500.00 Management $4,200.00 $4,200.00 Subtotal: $40,013.00 $40,013.00 Contingency: $0.00 Total: $40,013.00 $40,013.00 Net Income: 2015 2016 Gross Income: $84,000.00 $0.00 $91,700.00 Expense: $40,013.00 $0.00 $40,013.00 Net Income: $43,987.00 $0.00 $51,687.00 CAP Rate 12.567 CAP Rate 14.476 All Homes Are Tenant Owned Except For One Home Water Is Well, Owner Is Not Billing Water Back To Tenants, New Owner Could Do That Sewer Is Aeration Plant, Owner Is Not Billing Tenants, New Owner Could Individually Meter Sewer And Bill Back Tenants Roads Are Tar & Chipped New Owner Should Raise Rents Minimal $20, Or Bill Back For Water, Sewer, Or Trash Great Paying Tenants Gas Workers Take Up The 4 Vacant Spaces From March Thru October With Their 5th Wheel Campers For 100% Occupancy Seller retaining gas and mineral rights

Hi Mike, a typical 4000 sq ft home in MN will consume on average $100 per month of electricity  (about 800 kwatts) and $500-$600/month for gas in winter, $300/month in the spring and fall and $60/month in summer for water heating, cloth drying and cooking.

Thanks @Ben G. As

The property is all electric, no gas.

Geez, you are willing to spend time and gas money but don't know what to do wish the fish you find?

While the economy overall will suffer fall out from the loss of jobs in the oil field, many economies will be boosted by low oil and gas prices. 

.# of Lots : 6# of vacant Lots : 3# of POH : 0Lot Rent : $200Water and Sewer at the lot and connected to city lines.Electricity/Gas/water/sewer paid by the renterPrice: $35K cashI read Henderson is second most dangerous city in NC.

Consumers also has a really great cash-back Visa credit card.  3% on grocery/convenience, 2% on gas, 1% on everything else.  

Looking for feedback on the possible deal below.This property is in a B to B+ Neighborhood.13 Unit $490,000 (loan would be 5.5%, 10 Yr, 25 Yr amortization w/20% down)9- 2 Bdr and 4 1-Bdr (2 bd apts range from $700-750 and 1 bd apts $600-650)Gross Rents $108,000Taxes: $16,700Insurance $4,500Utilities Est $20,000(Includes Water, Sewer,Electric,Gas,Trash)Management 10% Est $10,000Vacancy 5% $5,500Maintenance Reserve 5% $5,500Net Est $46,000Thank you for any feedback or ideas in advance.