For just under $100 per year they will insure your water service and sewer lines.

Just this evening I got a call that a water line froze and broke.

well lease options are good in down markets kind of tough in hot markets. so this lack of success does not surprise me but i cant comment on how you he dealt with you on a one on one.. it seems once a year there is a post like this.so i have to assume he has a fair number of students throughout the year that are happy and for sure you cant please everyone in the real estate training business that is for sure.

Unless your market is red hot, you can't expect to get top dollar and close the deal that fast.Do you have any other comps?

@Karthik Ramachandran as someone mentioned , the site Marcus and Milchap has information on what cities are hot for multifamily based on several parameters.

That would add $700 back into your monthly cash flow and turn it from a negative cash flowing property (-$257 per month, per your analysis), to about $450 per month in POSITIVE cash flow.Also, water & sewer and insurance estimates seem a bit low, but that could just be the area of this property as compared to my area. 

For example, you can get the tenants to mow the lawn - but most tenants will not drag hoses around to water the lawn.  

It seems like the rental market is HOT overall, listing properties on MLS for lease is getting crazy, tons of showings and tons of crazy offers.

@Ryan Cotic insurance and water seem a little low, but otherwise it seems correct.

The flow of water is noticeably slower.