If possible I would like to hear some feedback on the properties below:Property 1: Listing price $149,0002 Commercial Units & 1 ResidentialIncome: $17,499Factored in a Vacancy/Loss Rate = 5% or $921Expenses:Taxes = 2200Insurance = 700Trash = 400Water/Sewer = 1,000Maint = 2,000 (high estimate)Total Expenses: $6300Expenses of % of Gross Income =39.20%NOI = $11,199Mortgage = $7,854Total Cash Flow = $3,345 Cash ROI =7.37%Property 2: Listing price $149,0002 Commercial Units & 1 ResidentialIncome: $17,100Factored in a Vacancy/Loss Rate = 5% or $900Expenses:Taxes = 2600Insurance = 800Trash = 400Water/Sewer = 800Maint = 2,000 (high estimate)Oil = $3,900Electric =$1,800Total Expenses: $12,300Expenses of % of Gross Income =73.33%NOI = $4800Mortgage = $7,854Total Cash flow = (3,053)Property 2 obviously does not look good on paper because of the expenses due to oil and electric.She has them listed to buy both for $289,000.

I've been a construction MGR in oil and gas for 10 years and in the business 21 years.

Kilz oil or any other primer will eventually allow it to bleed back through. 

After I found out about BP I recognized my mistake with this property, gonna do my best to turn lemons into lemonade in the meantime.

The range hood looks disgusting because someone had spilled cooking oil down onto it, and then a bag of sugar.  

For the Houston guys, how do you guys see the market going now with the trend of less jobs in oil and gas?.

Easier to cut through all of the noise.Commodities: March December 1st 14 days agoSteel               $54.46 $35.60 $38.77Copper                 4.75  3.82 4.22Lumber             1,441 391 344Silver             26.46 23.16 24.49Crude oil       111.76 79.98 79.86Natl gas       12.80 11.00 12.22Corn              7.49 6.26 6.75Soybeans      17.00 14.39 15.38Different charts, different days, you will find different numbers for the above.Believe we are still in a Whiplash effect.

I liked your bit about asking, "the squeaky wheel gets the oil" as my mom has told me! 

Keep an eye out for any termite damage, in-ground oil tank (it may have been decommissioned years ago, but may still be in the ground).

i think one of the markets that are going to produce reasonable value for buy hold investors in terms of equity appreciation is in some of the more desirable suburbs like sugarland, katy, woodlands.. homes where say a mid level engineer or some middle to upper manager might have risk of job uncertainty given oil and want to essentially get out or need to get out.