Subtract it all from the $700 and if negative, mail them a bill. 

I recall every time I needed to pay a bill, having to fill out another form. 

Today I want to talk about a great lesson that I learned as I had more experience under my belt.It is the power of not having a wholesale every property that comes through my funnel.When I got started in this business, I only had one exit strategy...Assigning.I love this assignment strategy and I still do this a ton today.However, after accumulating some experience and capital, I can now say that having more than one tool in the toolbox is extremely beneficial especially in competitive situations.Here are three tips on why it makes sense to not wholesale every property.Tip #1 YOU CAN MAKE MORE MONEYMost of the time, you are going to make more money if you close on the property.

@Bill S. makes some great points -- if it was just about the numbers then we'd all invest in artificial intelligence and analytics and have a bot decide what properties to buy.My thought: I don't think anyone has mentioned it, but you can increase CoC by investing in the property.

HOA fees are not taxes , they are bills .

The power is off and the HVAC looks to be between 6-12 years old.

I understand as long as you can prove that you didn’t get the mortgage fraudulently (it sounds like you had every intention of living in it), and you keep paying the bills every month- they won’t care.

On the other hand, @Bill McCafferty  is definitely an expert.  

I have seen countless videos on YouTube about the power of real estate investing and am looking to try my hand at it.

Here are the knowns:Rent per tenant: $750 (this is below market value due to deferred maintenance, I believe $1,000-1,200 is more realistic)Property taxes: $900 per yearLandlord insurance: $1,000 per yearLandlord pays water/trash: claims to be $125 per month (will ask for proof)Landlord is in charge of snow removal and mowing lawnThere are 5 electric meters, each tenant pays their own (landlord covers hallway and outdoor lights)What I plan to ask for is the copies of the leases, copies of the utility bills, and copies of bank statements showing the tenants are actually paying on time.