First of all, this would be an insurance nightmare should someone get injured on common area.

So the Mortgage includes the taxes and insurance. 

Realty Tax is about 18k a year insurance $7500 water sewer avg $16k utilities $8-9k.

Buy at a great price + location + good numbersRentals don't have to be rocket science.Figure rental rate based on like kind rented properties near by.Subtract: taxes, insurance, repair % (7.5%, but varies based on prop condition), vacancy (2 months), capex (5%, but varies based on prop condition/age), pm if using (8-10%).

Is he retiring to the good life on a beach?

That can work.I'm wondering if you can somehow creatively do this deal where you pay an extra $5000 for this new condo, but have $5000 held back by the seller for you to do some kind of upgrades, but then just use the $5000 to pay down your original condo so you can get to 80% LTV in order to drop the PMI insurance and refinance at a more realistic rate.Is that HOA monthly? 

We usually act as out own GC so I figured we'd have to do it on this job, too, but life would be so much easier if I could have someone handle it for $150/ sq ft. 

I teach my clients to have all the expenses on auto withdrawal  ( mortgage payments, monthly assm, if needed: tax and insurance) and have the phone number of few handymen on speed dial.

Their asking 65,000Gas & Elec $99.00 month  Bath's updated.Mobil Home Insurance $500-700.00 mo.Can I get some feed back

The Auction Asset Life Cycle: “Coming Soon”In this post I will discuss the asset lifecycle that properties on auction.com typically go through.