The average agent is not that well trained in understanding the meaning of many clauses so depend on the Realtor Board lawyers.You can use the standard form with a custom appendix that has all of the things you want to change, modify or add.John Corey

In MOST states, if you, Mr Buyer, sit down with Mr Sellers listing agent and write up a a purchase offer, you will be presented with a checkbox and list of options that will establish whether there is in fact a "dual agency" in play, or if you are representing yourself as a "customer" of the agent.

The utilities are not split (so they are currently included in the rent), but once a tenant moves out we plan to split them and make the tenants pay them.We plan to offer $25,000 and assume we can negotiate to $28,000.Using Mike's 50% operating expenses, that leaves $500 for NOI.

Thats $11,000 at best, in holding costs and that doesn't include any utilities, trash dumpster, etc."

i can appreciate both of your comments..i have about 20yrs experience.i have been doing construction in one form or another since i was 15 yrs old.i have worked in custom cabinet shops,for remoldelers ect.i have been in business for myslef for the last 6yrs.i do almost everyhing.i have always wanted to get into realestate but never had the cash.i always had to support someone along the line.i figure this would be a good way to get into it.i understand your concerns.if there is anything else anyone would like to know just ask.mike

The tenant moved out and owes me for last month and a half rent plus utilities.

I am just trying to stream line my business as much as i can so i make as much money as possible without cheating my customers or doing something illegal.

most realtors are only looking out for themselves (No hard feelings ladies and gentlemen) and it is very hard to find an honest one that believes in customer service!

Also contact an appraiser and inform them of you intentions to purchase and ask it they will provide you with a desk review or approximate market value in exchange for consideration of utilizing their future services.

For example, you completely ommitted advertising, management (even if you do it), maintenance (even if you do it), legal expenses, evictions, setout fees, damage done by tenants (in excess of the security deposit), entity maintenance, utilities paid by the owner during rehabs and vacancies, capital expenses (although not technically an operating expense), lawsuits, etc, etc, etc (I could go on and on and on).The good thing is that you're at break even, so this is not a disaster.