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.

Take a couple months to fix it up if it needs it and get ready for the profitable spring.

Make sure you do your research on the reputation of anyone who might offer to help you so you don't end up in hotter water (there's a lot of great people on BP, but that doesn't mean everyone ) You may have to give up more of the future profit than you'd like-- but at least you'd stand a chance of getting to a profitable point.

Expenses: $52,355-Janitor $400-Water $11,000-Repairs- $1000 (This seems so unlikely for a 19 unit!)

No mailed check or pick ups.Purchase price 300k and owner is giving 20k towards upgrades/repairs etc  Plan is to install surveillance cameras, lights, paint doors and shutters, 2 water heaters and new signage and minor fixes etc.

During that time, there was a water leak at the property (vacant property) and the water bill was over $5,000.

I have a property I just (yesterday) spent $1800 on putting in a filtration system to remedy bad water.

You might want to start the eviction process with the notice to pay rent or quit and see how she responds...she might just move out..and if not, follow-up and get her out of the property.I don't think you can start removing items from the property...you'll likely get it hot waters!!

Since 2009 I have self managed the house we bought because we are under water.

I like to use one gallon of concentrated bleach with two gallons of water and a cup of TSP.