The community was presented as a stabilized and clean park but had under market local rental rates.The community is located within the City limits of Declo and has all city maintained water and sewer lines.

Unfortunately I left about $2000 in inspections/fees etc on the table, but they are negligible in the scope of things.

Having the same dues for a two bedroom as a studio is unusual though, does the HOA provide water?

So this room has the furnace, water heater, and laundry in it, and they are only accessible through this room.

You want to inspect the foundation, water lines, sewer lines, HVAC, electrical system, roof, termite, etc.  

Don't want any surprises and have to pay for a new water heater or fix a leak out of pocket!

The lender also wants the water heater to be repaired. 

Updated granite kitchen, water view, nice size lanai.

The basement has a serious water leak issues but other than that just updating of kitchen, flooring and bathroom and paint are needed.

This doesnt account for $9.88 water charge per unit per month.Garbage - Since it is over 4 units you need to hire your own service which if you hire Flood Bros they can get you a 2 yarder twice per week for about $120 plus fees.Vacancy - Run 10% on your numbers just to be safe.Lawn - you can go on a place like taskeasy.com to estimate this cost.