According to analysis by Ben Leybovich you should calculate about $150 - $170 per unit per month for capital expenditures over time (boilers, water heaters, flooring, roofing, siding, etc, etc) for buy & hold properties.If your $600 is missing some of those items you might be in trouble.Hopefully, you've used the BP analysis tools (free!)

If the seller is using the county assessed value then guessing at a price its no wonder its been up for so long, they are not accurate.Get on Zillow, realtor.com, eappraisal, redfin (use the whats my house worth tool) to get a general ballpark of what homes have sold for near by and what these websites think the home is worth.

The 1031 exchange is a a very powerful tool that can be used in a diverse number of ways to leverage your real estate investing career.  

Brent the reason I brought that up is that there's different ways of taking title and there's different kinds of title, strongest title subject to where you actually get a warranty deedThe land contract in Ohio is a great tool to buy on  terms.

I came across this Ted Talk by Rory Sutherland that explains how advertising creates perceived value as opposed to actual value for a product.http://www.ted.com/talks/rory_sutherland_life_less...Understanding the power of perceived value is crucial for parties on both sides of an advertised deal.

Another cool tool to use that my realtor did was to offer one of the tenants money to break their lease early if that's the hold up.

There's never any guarantee, but the Land Trust can be used as an asset protection tool.  

I also think you are elephant hunting with a .22, not a BB gun, but still under powered for the size of the project to start off with if you don't have RE experience, and that too can make investors gun shy.

Does that mean they'll be on the hook for the bill or it's attached to the home anyways so if that bill goes unpaid, the home is at risk of losing power if not paid?

Your biggest investors will have the negotiating power, however you can try something like this:Pari-passu: 0-8%, 90lp /10gp First promote: 8-16%, 75lp /25gp Second promote: 16%+, 60lp /40gp Hope this helps.