I've bought two plots of land in West Texas, one as a tax resale and another as a bid at the city hall.

Lot rents $210 includes city, water, sewer and trash.

Details in MLSUnits: 6Taxes: $5874 (annual)Gross Income: $48,600 ($675 per month)Net Operating Income $38,838Total Expenses: $9762Vacancy Rate: 5%Asking Price: $449KOwner pays Trash & Water______________________________________________________________Based on the expenses I am assuming that the property management is completed by the owner and that they are including ~$4K a year in insurance.I ran the numbers in my own Deal Analyzer and I added:5% of Effective Gross Income as Maintenance Expense 10% of Effective Gross Income as Property Management ExpenseBumped the vacancy rate from 5% to 10%Insurance: $3000 (annual $500 per door)Water: $3240 ($45 per door - typical in city)Trash: $1,800 ($25 per door - complete guess)$12K for improvements ($2k per door)20 year note @ 5% with 20% down (assuming full asking price)2% Closing costs______________________________________________________________My numbers show a Cap Rate of 5.7%, cash on cash return of -5.12% and -$1,668 of annual cash flow. 

Looking for a reliable and personable handyman in the Oklahoma City area!

I have a few properties here in Kansas City and I can help you.

I have kind of assumed the city is broken in the four corners. 

A recent example is that I called a broker (not the main one that my partner uses) to ask about recent sales and what he's seeing in certain areas of a city.

Is it a city-owned utility that can attach to the property as a lien?

A recent example is that I called a broker (not the main one that my partner uses) to ask about recent sales and what he's seeing in certain areas of a city.

Additionally, the amounts they pay are based on the county, not on the city, and I invest in very desirable city that demands market rents well above what is typical for the county.