I understand the concept of OPM and utilizing hard money lenders to fund an investment purchase, I guess it all comes down to networking and getting to know the right people to actually make it happen, as is how it works in any field/industry.

For example if majority is vinyl siding, ceramic tile, standard cabinets and laminate counter tops, VS wood siding or brick, marble or slate, custom cabinets, and granite counter tops.

Chris Masons the utility area was on the back porch, so in a comedy of errors the tenants had a bag of match-light charcoal laying near the dryer.

If you run the numbers on a very conservative side (10% vacancy, $1,500 taxes & insurance each, 5% cap reserve, 2.5% utilities, 10% repairs) you are looking at a NOI of $16,157.

But the security, lower fire risks, ability to survive weather (so long as it's not in a low lying area, LOL) and lower utility costs is a big plus!

If so then here is the cash flow:$14,940 :Annual Rent- $1494 :Vacancy @ 10%$13,446: Gross Income- $1,345: Repairs at 10%- $2,110: Taxes- $1,163: Insurance- $ 336: Utilities @ 2.5% (Covered for vacancy)- $4,953: Total Expenses$ 8,493: Net Operating Income- $8789: Mortgage Payment of $732.38 x 12 Months- $ 296: Before Tax Cash Flow.It is going to cost you $25 out of pocket every month to own this property - that is if everything goes well.

I've factored in Taxes, Insurance, Cleaning, Snow/Lawn, Turn over.Your expenses are missing a few things: Maintenance, Vacancy, Capital Expenditures, Utilities During Vacancy, Legal/Accounting, etc.

Have you verified with the tenants via estoppel letters that the leases are accurate, they are paying the stated rent and that they DO pay their own utils?

Each deal has a new set of local customs.

Who owns these the city or utility company or you?