Hello, I am a first time home buyer in the South Florida (Broward County) area utilizing a VA loan as my first home purchase.

From my experience, one needs to be familiar with as many strategies and options (tools) as possible and then, equally or even more important, know when and how to utilize the right tool(s) to create win-win scenarios.

I’ve found the best results utilizing a tax attorney.

The owner may pay utilities also, the gross rents can be deceiving..

Anyway got a lawyer involved and the decision was she has to be out by September 30th 2018.. today she calls me up asking for a extension because she cannot find a place.

Its not cheap to have a property demoed in Detroit, Ex.  2100 sf , two story, between two existing homes will cost approx. 13k, without asbestos and lead remediation - it will take 60-90 days to get utilities terminated, and proper permits issued.

One has much more capital to put in for a down payment than myself and the other friend, and he is not opposed to utilizing his greater capital to get us into a larger property. 

Landlord pays for oil, water/sewer and trash.If we end up acquiring the building, we would somehow want to pass the heating cost to the tenants for new leases.One way would be to implement RUBS (utility bill back to the tenants based on sq footage of the units, # of occupants, etc).Another way would be to convert to electric heat.

Has anyone tried to utilize a rental property mangement company for this purpose?

@Josiah Kay tenants pay all utilities.