As for the water that was coming from the storm drain, we couldn't stop that, so we sandbagged as much as we could to slow the water down, and just let it flood, occasionally checking on the home to ensure water levels were low / not going to come in contact with electrical (outlets, appliances).

Next was the electrical panel , Inspector calls there is no ground .  

My fourplex is individually metered electric heat and electric hot water heater.

Gave him a new electric heater.

The gas and electric were turned on, and we had a minor issue with the furnace pump, but got it fixed and the house heated up nicely.

I guess the $11,000 could be water and additional maintenance assuming the tenants pay for electricity/gas.I have no experience with commercial lending requirements, especially with respect to a seller carrying the down payment.

The apartment/hotel place had $375 management fee which included everything except electric and taxes.

Exposed electrical wires dangling from a ceiling.

Maintenance is usually estimated as a percentage of the gross rent, with around 5-10% being common.Capital Expenditures: These are larger expenses that will be necessary to replace aging components of your rental, such as a roof, HVAC, water heater, electrical panels or plumbing systems.

7914 W.82nd ave,Justice ,IL 60458, Justice, ILLINOIS 60458MLS number: 08246034.6 Flat with 1/4 bedroom Basement Apt or Studio Monthly Income:Monthly Expenses:Monthly Cash Flow:Pro Forma Cap Rate:$4,300.00$4,961.40-$661.403.36%NOITotal Cash NeededCash on Cash ROIPurchase Cap Rate$16,800.00$116,000.00-6.84%3.50%Property InformationMLS Number: 08246034Purchase Price:$480,000.00Purchase Closing Costs:$5,000.00Estimated Repair Costs:$15,000.00Total Cost of Project:$500,000.00After Repair Value$500,000.00Property Description6 Flat with 1/4 bedroom Basement Apt or StudioDown Payment:$96,000.00Loan Amount:$384,000.00Loan Points:$0.00Loan Fees:Amortized Over:30 yearsLoan Interest Rate:5.000%Monthly P&I:$2,061.40IncomeRent$4,100.00Other$200.00Total$4,300.00ExpensesVacancy$215.00 (5%)Repairs$215.00 (5%)CapEx$430.00 (10%)Electricity$40.00 (1%)Water & Sewer$215.00 (5%)Garbage$107.00 (2%)HOA$267.00 (6%)Insurance$170.00 (4%)P&I$2,061.40 (48%)Property Taxes$1,152.00 (27%)Misc$89.00 (2%)Total$4,961.40 (115%)Buy & Hold Analysis - 03/02/17 02:01:00PM Page 1 of 3Calculations based on a 31-day month.