Continuing the conversation from a previous post, have a close estimate of what the real costs of your home would be by researching previous utility bills, for example.

Please, feel free to leave any advice or feedback in the comments.Purchase Info.3 bedroom/2(full)bathrooms; 1,216sqr feet$197,000 with a fixed 30 year, 3.5% rate and 20% DP$4,000 in closing costsIncome Breakdown: $2,250/month      Average of $750 per month per roomExpenses: $1,804, We cover ALL expenses plus extra amenities $167/month combined taxes & insurance$225/month with 5% repairs & 5% cap ex$225/month with 10% vacancy(to cover our higher turnover rate)$50/month wifi$100/month cleaning service$100/month lawn service$200/month utilities$19/month garbage and disposalDetails$445/month Cash Flow12.31% Coc Roi

If the lot is in a SPZ and requires a septic system, the acceptable septic systems run about $20,000 vs the usual $7,000.Proximity to Utilities.

You'll also get an idea of what rents would be in those markets and can then make an educated guess on whether or not it may reach your preferences, or especially if you try utilizing the 1%-2% rule because if you know the area and can estimate property taxes then you will know if you should spend more time on it.

Utilizing big data and AI in some unique ways specific to REI.

Also utilizing rehab stores like the Restore can help as well as looking at alternative construction materials. 

This includes make ready repairs, WO, cleaning, utilities, landscaping, and capex (not much) etc.

Can I create a legal document which allows the neighbor to utilize this land with the understanding that it is legally mine.

@Ray Reed Supposedly the house is a legal 3 family has all utilities separate.The price they are selling it to me I get everyone telling me that it’s a good price for this market. 

It would be a shame for tenant and I both to not utilize these programs.