Here is more info from their flyer: ExpensesProperty Taxes$83/monthUtilities$175/monthMaintenance reserve$104/monthInsurance (estimated)$125/monthProperty Management$300/monthTotal$788/monthProperty InformationAsking Price $195,000 County Pocahontas CountyProperty type Multi family SubdivisionTotal units 5 Construction Brick/FrameTotal bedrooms 10 Roof Asphalt ShingleTotal bathrooms 5 Water source City waterBuilding size 3304 Water disposal SewerLot size 0.08 acres Heating Window UnitYear built 1973 Cooling Window A/CProperty DescriptionAmazing cashflow!

Heating, plumbing, and hot tubs are the biggest call-outs. 

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

Keep in mind it was an 1800 square foot bilevel with a redwood deck, new windows, new roof, new high efficiency furnace with central air, new bathroom remodels, and a newer kitchen.My opinion is that Covid accelerated a market that was already heating up. 

My tenant called me and stove/heat is not working anymore.

Our current home:Outstanding mortgage - $198kPurchased for - $226k Zillow is currently showing house value - $343k (not sure how much stock we should put into this and if this includes the improvements like installing heating/cooling mini-splits and solar -I’ve updated our Zillow profile)We re-fi’ed during the pandemic at 2.75% and mortgage is $1,150/mo.Comparable long-term rentals in the area are going for $1900-$2000/mo.For furnished it seems reasonable that we could do $2300-2600/moWe plan to manage the rental ourselves, to learn from that process and one of us has time to do that.

Goal 2: Address HVAC - boiler heat on my dime is $350 a month vs. passing off to tenants.

After the heat waves of recent in CA I'm seeing orb weaver spiders, but they come out more in the fall.

When I bought Previous owner was paying for heat but had “Lockboxes” on thermostats in units to minimum 68 degrees.

Now with increased electricity prices and heat prices this will be worse as well.