I have done cashflow deals in KC, MI and OH for over a decade now and I have found that the 5 to 7 year mark has been the sweet spot for me when it comes to maximizing appreciation and not holding on too long to where I don't have to come out of pocket for a new water heater, furnace, AC unit...

I require 3x rent+water in gross pay (4x for unrelated couples where neither applicant can cover on their own.

Food, water, shelter.

I'm Rich Kraemer and I am starting to move further into the real estate waters.

So if I could get it for like $65k  it sounds like it may be a better deal That would help the deal, but you really need to see if it is even possible to reslope the lot so that the water does not run towards the house. 

The previous owner drilled a well and no longer pays for city water.2.

In addition, just because items are depreciated for tax purpose over 27.5 years does not imply a life span of 27.5 years any more than replacing a water heater depreciated over 27.5 years implies the water heater has a 27.5 year expected life span. 

But that's all water under the bridge now.

We have a water pump for a pair washing machines and a dehumidifier in the basement.

Still red tape but a definitive end game Pavlov law approach:Food, shelter, water, safety, comfort and I will throw in livelihood.Get your contract out and read it thoroughly.