This is a relatively high-end, very well-maintained three-family building (with separate water meters for each unit).

I', thinking PITI of $850-$950, insurance of $50, water $50, taxes $2,250, property management $100-150.

PROS: house is super affordable, some houses on the street are being renovated, move-in ready, I could force appreciation if i wanted to (i.e. easily add a 2nd bathroom, minor updates) and neighbor is up and coming.CONS: 1 bathroom that is jack/jill style (guests would have to walk though bedroom to get to bath), water heater is 15yrs old., sort of funny layout/small kitchen some houses on street are a little unkept.View report*This link comes directly from our calculators, based on information input by the member who posted.

Accent the healing qualities of the water if people still believe that... 

A turnkey real estate opportunity will generally water down your return somewhat, but that cost is a trade-off for leveraging the expertise of a professional real estate asset manager. 

One of the biggest repairs was putting in a new water heaterWhenever some repair came up with the house the owner would always state that “he is a bank and we would never expect Bank of American to do any repairs, but if we wanted to forgo our lease option money then we could forfeit that and he would come donthe repairs”Anywho we have moved out and he is saying the carpet needs to be replaced and that that is our responsibility and if not there is the possibility that he will sue us. 

Property/Deal Profile General Guidelines Purchase Price 700,000 1 Percent Rule (%) 0.857142857 Down Payment (%) 3.50% 50 Percent Rule 3000 Down Payment ($) 24500 Cap Rate 8.214857143 Interest 4% Cash-on-Cash Return 26.73744578 Term (years) 30 Loan amount 687,321 Income Cash Flow Rental Income 1 2500 Total Monthly Income 6000 Rental Income 2 3500 Total Monthly Expenses 5075.33 Laundry Income Storage Income Misc Income Total Monthly Cash Flow 924.67 Total Monthly Income 6,000 Total Annual Cash Flow 11096.04 Expenses Cash-on-Cash Return Taxes 750 Down Payment 24500 Insurance 58 Closing Costs 0 Water/Sewer Rehab Budget 30000 Garbage Misc Other -13000 Electric Gas Total Investment 41500 HOA Fees Lawn/Snow Vacancy 200 Repairs 200 CapEx Property Mgmt.

Anyway get a system to vet your contractors and don't get lazy.

Most people are only looking for city water and sewer from what I gather and would like to know how many POH (park owned homes) there are.

Then at the close of business on the 1st they would tape a note over the drop box stating that rent was now late and that only certified funds in the amount of rent+water+filing/legal fees would be accepted.