Thanks for the reply Jon.I understand what you are saying, that usually the seller of a home has a contract with the listing agent for a set commission and that I as a buyer can't do squat to reduce that percentage, but I believe the situation is different when you are dealing with HUD foreclosures.In my case, the listing offers $1,250 each to the selling agent and listing agent.

It will involve managing five different tenants; people who will call you on the weekend or late at night to tell you that their kitchen disposal isn’t working or that their toilet is clogged; and five possible excuses for why rent is late this month, etc.

Not enough info to guesstimate your bath remod, you can get used toilets, vanities, newer faucets and tubs newer than what you have at bargin places or you could spend 100+K with electric toilet seats, and video systems in the showers....Go shopping and see what decor you want and price the items.

Lots of attorneys don't know squat about RE and contract law.

Using your example, there are plenty of landlords that self manage and do the labor themselves to save money...fixing toilets, handling ugly evictions etc...Or you could be a "hands off rehab/flipper"...have an inspector check it out, have your contractor get it fixes up...buy fix and sell with never visiting the property...just making a couple phone calls and writing a few checks.

You don't want to be snaking toilets at 65 right?

No tenants, no toilets, just keep hoping the sun shines as much as possible.

If the water company puts in separate meters for that price and then the tenants have to get water on in their name you should take that and run with it.In some other areas even if you want to pay when rehabbing a building the engineering department will not allow you to hook up to do separate meters with a line from the street.I can tell you also that splitting out the cost of water used will not work as the tenants will cry foul that one tenant is using more water then they are etc.Also if the tenant does not pay the water bill they consume up to 30% more on average according to statistics when it is built into total monthly rent price AND the tenant will usually be slow to report any leaks or not report them at all (leaky faucets,running toilets,bad shower valve,etc.).

Please note also that these factors mean squat in small towns and cities that do not materially change when times are bad or good.

Saran wrap under the toilet seatTape on the kitchen faucet sprayerPut a friends car on a dolly, moved it to a busy intersection with a for sale sign.