I think I'm not getting it, so need someone to say ' hey, stupid' this is how it works..help and advice here would be appreciated...My other choice is to flip and take the money into the next deal, but I do like the idea of 'Oil well's' just pumping cash flow each month, but again, I can't get over the 20K loss, and I'm sure an investor won't either.

Our agent doesn't want to buy it because she just closed on 2 properties and is tapped out for the moment.Property Details:2 unit, upper (2nd/3rd floor) and lower (1st floor/finished basement)List Price: 175kAgent's suggested offer: 160kOwner pays:Taxes: 2600 yearlyInsurance: 800 yearlyOil heat: 1200 (last year with low oil prices) yearlyWater/Sewage: 1400 yearlyTrash: 400 yearlyMortgage @ 160k with 20% down: 611/month1st Unit: Rents for $950. 

Gas might not be an option and oil isn't viable for split utilities for a 4 unit. 

The 1950s is when the "latex" paints became good enough that the switch away from oil paints ocurred.

This would be considered rural however there is a small college here and high rental demand from gas/oil/coal workers too.

I currently work in sales in the oil/gas industry (I know, I know - it's a controversial industry, but it's been good to me), which I started out of college 14 years ago, starting working on the drilling rigs and working my way up.

Houston is not only the capital for oil and gas, but also for it's medical center.

I manage a lot of people money, vendors and contracts in my field and see snake oil everyday. 

My impression is it is tied to the oil market so likely Tulsa is doing just fine.

Rarely does a tenant's repair list contain anything major that we missed in our own inspection, but it has happened for us on two occasions ... the most significant was a long-term tenant who told us things were much better since the owner upgraded the old oil boiler to a new natural gas one {we knew the boiler had been upgraded}, but then went on to muse that she never understood "why they didn't dig-up the old tanks like was done at the building next door."