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.

For me it makes sense to contribute to my 401k, realize the tax savings and simplify my life (by not managing additional assets in real estate).  

CMHC high ratio mortgage insurance will cover up to 4-units (though the minimum downpayment required is larger for 3 & 4 unit properties, than for SFR or duplexes), provided you reside in one of the units.