I usually have to also go through and replace all shut off valves and I always find a split pipe some where in the ceiling or walls.

if you intent is to "tie up a property" and never take title, that is what the regulators what to shut down.

I was glancing at some properties over there. the only thing that scares me over there is that I used to do billing collecting/shut-offs for electricity in that area, and it seems like I have been to every apartment building in that area.

That's becoming entirely to technical such as extorting.Lock-outs, utility shut offs are self-help evictions” and are illegal, cash for keys is not.

If our verbal is accepted, or at least of interest to the seller, we then write it up and make it official. 3) whoever you end up working with...... be prepared to "put up or shut up".

Hi all,I am in the process of locking up a deal in the church hill neighborhood in Richmond, VA.

Bills under my name had gone unpaid, utilities were being shut off, evictions had to take place, and money was flying out the door.

One has the main water shut-off value for entire building as well as the sewer clean-out access in a closet.

I don't know enough to know what I don't know, but wanted to use this as a learning experience to see if the numbers look right.Four Plex in Downtown Richmond Church HillAsking price: $298k 2/1 with utilities paid for by tenant - washer / dryer hookups in each unit.Currently has two 1 yr leases and 2 month to monthsArea is a bit on the rough side, but is up and coming (this property is a bit rough, but the ones around it have been fixed up)Been on the market since 2014 at various prices.Rent for the area should be $600-700 for each of the apartments, and it is CLAIMED that the annual rent is currently $30,600.I guess my questions would be 1.

Petersburg this week wanting to shut down all the STR's because the whole place is turning into a Hotel owned by Investors is a sign that new restrictions or outlawing STR's is in the works.