The issue with ONLY using this method as a way to invest is that it fails to take into consideration: 1) vacancies and bad debt (i.e. uncollected rent); and 2) operating expenses (including: taxes, insurance, repairs & maintenance, capital reserves and utilities, property management, super(?)).

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

Are there bad debts owed to utilities - a very bad sign?

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

Regardless of what type of loan you utilize, the taxes and insurance will be the same (though some lenders may offer/require escrow for these items).

But I have a sense that this may be a fair asking price.I would normally also probably go to things like rentometer, apartments.com, zillow, and not sure what other sites to see if what the listing says about $500/month is normal for that area.I'd probably then double-check to validate with the county website to verify taxes have been paid.And I would certainly want to touch base with the listing agent/owner to understand if they could supply a rent roll, utility costs, better understanding of who pays for what, how long the leases are good through, if any new CapEx-related equipment was purchased recently (or how old this stuff is).  

Thanks in advance for you help.Ps, asking is 144k, rent is 1775 total, tax ~3k, unsure on utilities, insurance probably ~45/month

My primary lender is based in Florida so I would probably need to utilize a new lender for out of state transactions.

I would love to get this property as I see a lot of value add potential if I can eliminate some of the expenses from the utilities. 

(I would advise if the answer is yes to make sure no viscous breeds are allowed and also get an extra security deposit and possibly extra monthly rent.)Also, something that helped us that you might want to consider is for your credit check is that the score matters, but we look deeper than the score if there are things that come up (and in New Brit there are usually things that come up).If tenants are skipping out on "modern life essentials" like utility bills, cell phone bills, car payments that is a huge red flag.However, if it is a result of medical bills or student loans (or possibly a foreclosure during the crash) you may want to look past some of those.