The callers know that they want to be in that area, and they have an idea of the schools and the market there in general (crime, parking, utility bills, taxes, etc).

Maintenance and utility expenses (Electric, Water, Landscaping, etc)5.

there's a lot better opportunities to utilize that cash in this economy

The building is 24000 feet with lots of hallwys and public areas, and typical 1 bedroom is around 750 sq. ft.Note: this would be a cash purchase with no debt.Calculated the NOI of $31k as follows: Gross Revenue: $101,000Taxes, Insurance, Utilities: $27252 (verified) All told, the Gross Revenue is $101,000 per year.

All utilities will be in the 1 person's name .

He probably has a few connections he trusts... and he should be able to vouch for you as a customer (yearly work, total scope, pay on time, etc).Of course that also tells him you're looking past him for when he kicks the can so you'll have to figure out how to phrase that...

He might make it simpler - utilities included for sure.

Tenant paid utilities are one of the biggest factors when assessing properties.

Cost of goods will increase to new highs - look at gas, food, utility rates already.

Setback requirements, public utility hook-up requirements, or others could kill this deal.