I find it interesting that they consider Austin an oil and gas boom city.  

@Barbara G.,As

I'd just turn the gas on, wait ten minutes and hit the remote fireplace starter. :) LOL 

The BiggerPockets coupon code is still active and valid.

Hey folks,I have couple questions: I'm new on this and during my initial marketing I found a house (built in 1952, 1196 total sqft, 3b/1b, lot 0.34 acres) in distress (it needs to be rehabbed, new roof, new windows, a couple of foundation problems and right now it is empty), this used to be a house but now the land is ruled as commercial, it is on a busy street in front of a little gas station, and few houses from the same block have started to be used as commercial.My questions are, how do you start analyzing a deal like this, where an old house is sitting on a commercial land?

I really want to keep them out of the 203k loan because I don't think we're getting good pricing from the contractor.  1 - 2.5 ton Goodman R410 14 SEER Heat Pump System2 - 80% 80k BTU Natural Gas Furnace Coils (I assume the A/C condensers are included here too)He wants over $15k ($9k parts $6k labor) to replace the three outside units and the furnace coils. 

Monthly rent: $875Monthly expenses:Water: $75Property taxes: $151Insurance:  $53Repairs/CapEx: $130Vacancy: $73 (although these are long-term tenants who say they never want to move, I still will account for vacancy)Net cash flow:  $393 Tenant pays their own gas/electric.

One of the neighbors called the city to report us and now we have a few violations and two of them are not valid.

You need someone on your side helping you.It appears as though residents pay electric and gas.

It give me hope.Unfortunately for you, I grew up during the 60s and 70s, to wit: "Gas, grass or ***, nobody rides for free"Actually, you just need to do your research.