Annual Operating Expenses Real Estate Taxes $14,650.00 Insurance $6,874.00 Water and Sewer $18,171.00 Snow Removal $0.00 Trash Removal (ROT $60 x 12) $3,768.00 Electric $10,594.00 Gas $9,803.00 Oil $0.00 Legal (rule of thumb) $500.00 Management Fees 10% $0.00 Repairs and Maintenance $49,329.00 Other (Turn Costs + Onsite) $41,222.00 Other (Onsite Manager) $24,000.00 Total Annual Operating Expense $178,911.00 I'm thinking this is a pretty easy fix.

I am capable of basic plumbing, electricity, Sheetrock and general handy man work.

So about a month ago we had a pipe burst in one of our unit, water ran from upstairs bathroom down to kitchen and into basement. water remediation company had fans and dehumidifiers in that tenants place for about a week running continuously. their utilities bill webt from being approx $50 normally to about $108 dollars so around double. theres 3 roommates in that unit and each one got a $100 disount for that months rent to compensate for any contractors coming in and out and not having hot water for about 5 days. my question is should i pay for the additional electricity used caused most likely by the dehumidifiers and fans?

I find a noticeable difference in pristine, showroom sales condition and what I call or have heard called fair "rental condition" (clean, functional, but not perfect)...Unless you get a  super careful tenant, your unit will be closer to rental condition after the six month tenancy than pristine sales condition.

Would like to turn into a clean, safe  rental property quickly.

The other units are in good shape and very clean but this could be our chance to impress under new management.  

David Jackson Real Estate investor with a background in remodeling, landscaping and electrical since 1992 a member of the nccer since 2010.

We pull electrical, plumbing and gas and HVAC permits when necessary.  

I work in NYC as an Electrical Apprentice and want to start my journey as a real estate investor.

I am rounding my mortgage costs up for easy calculation and my owner expenses (percentages) are pretty conservative Purchase Price: $215,000Gross Rents: $2,400 ($1,200 per unit)_________________________________________________________________________________-Mortgage Costs-Principle: $1000Interest: 3.5% ( I may do a rate & term refi for a 3.2% interest rate)Taxes: $210Insurance: $140 (Lowest quote thus far)Appox.Total: $1350/month_________________________________________________________________________________-Owner Expenses-Utilities: $0/Minimal (water and electric separate)Prop.