I requested the water and sewer maps from metro, but this time it was different than usual.

I didn't know the difference between a heating system and water heater, I didnt know how to screen deals, I didnt know how to calculate cash on cash. we all start somewhere. 

You are looking for evidence of water and mold and assessing the structural integrity of the walls and support beams.2.

Cost to run city water/sewer and electric service (it's already at the street)3.

We are looking to purchase a fourplex in the Colorado springs area, for our first property in about a month or so.

We're not in Dallas, but we converted our STRs into midterm rentals years ago in Denver and Colorado Springs.

Specifically, the home is located in Lithia Springs.

This deal that you mentioned sounds at first blush that it's dead in the water because of the large deposit.

This is my first extensively water damaged home that I may purchase.

There tends to be less competition from every day home owners who need to move in the spring/summer before the new school year starts and thus the possibility of having more leverage on sellers.