The current manager of my complex has been keeping the rent the same but tacked on a surcharge to cover water  (water is not metered to individual apartments) and property taxes.

Hey Bigger pockets family were having a current issue where the current loan balance is 207,000 plus has a year of taxes and water bill .

So...then rehab that I have in progress does not have a water pipe running into the house.

How cool is that!

For just under $100 per year they will insure your water service and sewer lines.

Just this evening I got a call that a water line froze and broke.

I do think as an investor it would be cool to understand to the degree you do the niche you have been focused on, perhaps I could apply it sometime in life.

I've helped clients purchase multiple short term rental properties all over Scottsdale and Phoenix (condos, SFH, and a really cool property with a guest house).

That would add $700 back into your monthly cash flow and turn it from a negative cash flowing property (-$257 per month, per your analysis), to about $450 per month in POSITIVE cash flow.Also, water & sewer and insurance estimates seem a bit low, but that could just be the area of this property as compared to my area. 

For example, you can get the tenants to mow the lawn - but most tenants will not drag hoses around to water the lawn.