Originally posted by @Nathan Waters:@Tavis Stice, I just met with my attorney today to set up a trust and LLC for the 2 houses I'm working on.

Property needed major water damage repair inside (luckily is was very recent and white water), had I known,  and it would have cut the purchase price down to 60%MV.

Floor has a slight slope to it.3. laminate flooring was put in incorrectly 4. stress crack along with minor water damage on ceiling and walls5 new roof6. no appliances 7. the washer and dryer connections are in the kitchen8. has no central air (95%) of the houses in the area have it 9. need landscaping 10. gutters11. wall trim is in pieces12. some paint since im sticking to white ( very popular in the area)13. doors need replaced14. full remodel of the bathroomAlso the furnace and water heater are exposed in the bathroom (looks very weird) and it does have a garage or a basement but crawl space.

There is not enough numbers there to give you an answer - but you will probably be paying 400 in mortgage, then taxes( looks like probably 200/m), water, sewer, maintenance, insurance, utilities. throwing a rough number out there i would say you probably would have about $900 / m in expenses, so you could make $400 / m. can always try and negotiate a little lower to make a little more.

How many occupied lots , are you getting any homes , what kind of sewer , what kind of water supply ? 

Is there a requirement for MFU to utilize public water and sewer and does said land have access to these?

I currently own a home in Silver Spring, MD that I rent out while I live in Oklahoma working on a commercial construction project.  

sounds like a good deal, 7700 potential income, you would have about 380,000 mortgage when done (1800 - 2000 / month payments) then figure in your taxes, insurance, maintenance, PM, water / sewer, garbage and any utilities you may pay. keep the current tenants in so you have some cash flow and renovate each duplex and fill them one at a time until you do them all, this will keep your expenses down while building up the income, just let the people who will look at renting the new places that the rest will look the same, so they know they wont be living next to places that need work and not taken care of.

We have three water bills from the Water Department, Malden, MA.

Sewer and water lines are THE HARDEST problems to identify before during or after purchasing.