have been eyeballing properties in puerto rico and the usvi, wife says she has had it with the long cold winters anyone own investments down there

It was designed with one meter for heat and one meter for water/sewer.

(I type the street into Redfin/others and it keeps giving me comps within certain close neighborhoods).A house I'm going to look at tomorrow is in a little niche area on the water/with a view along with 80 other houses of the same ranch style.

4plexList $89,900 (Following figures are based of purchase price of $82,500 cash deal)Income $2540Vacancy reserves 20% (that's what most banks around here use)Capex 10%maintenance 5%No PM expense/reserve as I would manage myself.Taxes $4000/yr Insurance $100/moFlood Insurance $100/mo (on the very edge of flood zone)Garbage $100/moHeat allowance of $300/mo (the remainder of the bill divided equally between the 4 units until I can separate heating by units)Water $135/moCash Flow $582/moI don't plan to touch any income until I find another property and then would probably refi cash out for down payment on the next property.Any insight would great. 

The 1st Contractor has been telling me he has 6 hrs of work for the past 1 month and has been delaying the work Also saying the it is to cold outside.  

I'd tie it up under contract immediately, and do some proactive due diligence on it.The biggest "hidden" cost in most deals is the ramification of private water and sewer, which this deal does not suffer from.

Sounds to me like wading through some very murky legal waters here. . .

I'd test the waters a little bit before getting too official.  

However, if you move out, you're actually under water $200/mo, and that doesn't even take into consideration your reserves.So, you just need to make sure the property will cash flow without you in it.  

I made a mistake: only called PG&E, not city for water.