With the assumption the tenant pays most of the water, gas, electric...Purchase Details -------------------- Purchase Price = 80,000 Closing Costs = 4,500 Renovations = 1,500Down Payment ($) = 20,000 Down Payment (%) = 25 Interest Rate (%) = 5 Years = 30Income (Monthly / Yearly) ------------------------------ Rent = 2,200 / 26,400Expenses (Monthly / Yearly) ------------------------------ Property Tax = 250 / 3,000Management Fee = 220 / 2,640 Insurance = 145 / 1,740 Water = 50 / 600 Sewage = 100 / 1,200 Electricity = 50 / 1,200Repair Estimate = 291.67 / 3,500 Vacancy Estimate = 150 / 1,800Misc = 100 / 1,200Results ---------- Cash Required = 26,000 Loan Required = 60,000Monthly ---------- Income = 2,200 Expenses = 1,356.67 Financing = 322.09 Net Income = 521.24Yearly ---------- Income = 26,400 Expenses = 16,280 Financing = 3,865.12 Net Income = 6,254.88Capitalization = 11.77% ROI / COCR = 24.06%

I'm wondering if I will run into any issues if I do not have any appliances in the houseOR , since it has a Gas hookup for a gas stove , is this the only ( Mandatory ) appliance that will have to be in the house when the appraiser come out ?

Machine shops, cabinet shops, composite company, Oil/gas industry suppliers?

., renter is responsible for gas and electric.My questions are:1.

The house is on fire or they smell gas they should call the fire department or gas company.

This year is great with lower gas prices, more traveling.

If so, then that usually means, that it used to have water and power and maybe gas and lines can easily be reestablished.

The NYC HPD website is ambiguous.It reads, "Heat and hot water are required to be provided for all tenants (although based on your lease you may be required to pay for gas, fuel, or electricity to run heating equipment).Property owners are required to provide hot water 365 days per year"Which is it?

Here are some of the more common exit strategies: Continue to hold (if its not broke, don't fix it) Sell and pay the taxes (cash out) Sell with seller carry back financing (defer capital gain taxes over the term of the note)1031 Exchange into properties that have less property (labor) management issues and/or less capital intensive issues 1031 Exchange into smaller assets (trading down in value) over the years so that you slowly cash out and don't get hit with all of the taxes in the same year. 1031 Exchange into more passive investments such as Net Lease Properties (NNN), Delaware Statutory Trusts (DSTs), Tenant-In-Common Investment Properties (TICs)1031 Exchange into gas, oil, air, water or other mineral rights that require no management Contribute into and sell through a Charitable Trust Consider charitable donations of property These are just a few that came to mind quickly. 

After that add in utilities like water, electric and gas.