The biggest danger is a leaking tank that causes water damage, but it hasn't happened to me yet.

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

@William HooFatt thx William -There are a lot of Small mouth bass , walleye, and occasional other fish in the delaware there .Some freshwater  eels too!

Even a typical water heat replacement would set you back signficantly.There's plenty to the puzzle that i am unaware of but with what you've outlined here i would consider passing on the property.you know you need managementyou know you need to remove at least one tenantyou know cashflow is meager after considering management.i personally wouldn't recommend a client take on the risk for such a paltry pay out out of state.Even when considering long term appreciation the average amount of headache one assumes with a property will bog you down before the long term play pays off.

Fresh cracked dungess crab was 25 for a one pound container for years.. it flew up to 50 bucks.. there is no shortage of dungess crab in the Pacific oceans .. its down to 35 now.. but still high.. the meats the same way most all went up at least 50% and have not dropped.. chilean seabass was 15 bucks a pound went to 25k and has stayed there..

Bokuden quickly took over the oars and back-paddled into deep waters, stranding the irate and embarrassed young samurai on the island.

Your worry is if the pipes are in tact and if the water and sewage flows out.

I'm skeptical. in most markets section 8 only allows one year leases.. and in my experience with 200 plus section 8 doors tenants move every 18 months they trash one house then go find another freshly rehabbed one.. of course each market will be different..

Lack of water?   

Hi William, we're right across the water in Brooklyn!