ok, now the next question would be what kind of financial options do you have to utilize?

Both are currently seeing a sustained job growth. 

Just am learning that landlord pays tpart of the utilities (2000 per year) so the cash flow number are much less attractive @7.1%.

I have to admit I am intrigued by doing this entire flip without seeing the property because that would allow me to fully utilizing my marketing abilities to go well beyond my current city if I can outsource every step of this process. 2 weeks in and we have an assignable contract with 40K in estimated equity.

In my experience, property going up for bid by either a Marshall or sheriff is the most likely to have other liens on them, particularly IRS, property taxes and utilities. 

Is there a super spreadsheet or software out there that can handle things like:-Vacancy of single units in a multi during a rehab and the associated costs (utilities during rehab)-Projected capital expenses at a specific time...parking lot resurfacing in June of year 3-Seasonal expenses like snow removalMy point is that a percentage of something is too generic and does not represent how cash really flows.  

Property Purchase Purchase Price $ 215,000.00 $ 215,000.00 Down Payment % 30.00% 30.00% Down Payment $ 64,500.00 $ 64,500.00 Mortgage Amount $ 150,500.00 $ 150,500.00 Mortgage Interest Rate (annual) 3.500% 4.375% Mortgage Amortization Term (years) 15 30 Mortgage Monthly Payment $1,075.90 $751.42     Property Rental Income Annual Vacancy Rate 0.00% 0.00% Monthly Rent - Unit 1 $ 1,700.00 $ 1,700.00 Monthly Rent - Unit 2 $ - $ - Monthly Rent - Unit 3 $ - $ - Gross Monthly Income $ 1,700.00 $ 1,700.00 Potential Annual Income $ 20,400.00 $ 20,400.00 Less: Vacancy $ - $ - Annual Rental Income $ 20,400.00 $ 20,400.00     Annual Operating Expenses Property Taxes $ 1,662.00 $ 1,662.00 HOA Fees $ 2,496.00 $ 2,496.00 Insurance $ 201.00 $ 201.00 Utilities $ - $ - Leasing & Advertising $ - $ - Property Management $ - $ - Repairs $ - $ - Maintenance $ - $ - Accounting & Legal $ - $ - Total Expenses $ 4,359.00 $ 4,359.00 Monthly Mortgage & Expenses $ 1,439.15 $ 1,114.67     Net Operating Income & Cash Flow Summary Annual Rental Income $ 20,400.00 $ 20,400.00 Less: Annual Operating Expenses $ 4,359.00 $ 4,359.00 Net Operating Income $ 16,041.00 $ 16,041.00 Less: Annual Mortgage Payment $ 12,910.78 $ 9,017.09 Net Income / Cash Flow $ 3,130.22 $ 7,023.91 Net Income / Cash Flow (Monthly) $ 260.85 $ 585.33     Less: Depreciation Expense (1/27.5 of cost) $ (7,818.18) $ (7,818.18) Taxable Net Income (Loss) $ (4,687.96) $ (794.27)     Property Metrics & Analysis CAP Rate 7.46% 7.46% Gross Rent Multiplier lower is better 10.54 10.54 Cash on Cash Return (CoC ROI) 4.85% 10.89% Cash Flow Profit Margin 15.34% 34.43% Cashflow / Assets 1.46% 3.27%

@Jeff Arndt I don't use them, but I've heard good things about Synergy Utility Billing.

@James Bynum, is there an option to utilize another (traditional trash cans) trash service in that area?

It hardly seems sustainable.