Landlord is responsible for HOA fees, Water, Trash, Recycling, Snow Removal and Landscaping.Requirements: Income at least 3x monthly rent. 650+ Credit Score or Qualified Co-Signer, No Criminal History, Completed Application. 1x Month Security Deposit.

With these same numbers, a $315,000 purchase price would give you a CoC return of around 7-8% and about 600/month PURE cash flow. this is all assuming a 20 yr Amortization with a commercial loan.

I hope you guys keep it up for those like myself to hear some truth before we "jump in the water."  

You'll likely have to cover common area electricity and all of the water (typical for Chicago may be not your case).  2. 

In many areas some utilities are provided by government entities such as garbage and sewer, but also sometimes water and electric.

If there is a way for 2nd floor to go directly to the basement, you might be better off putting the setup there.Other items to consider--who pays for the water/sewer? 

On Monday you have 3 water heaters lined up for employees .$500 material and $500 labor each Plumbers get paid $30 an hour in this scenario .Instead of doing 3 jobs that day .

Then there are issues with water bill,electrical bill, and probably other bills that haven't been paid in years besides for minimum.

You can spend 10-35k on just water proofing and water mitigation.

Does the rent include any utilities like water that might increase?