(I also include all stainless appliances and fridges with ice makers and door dispensing ice/water.)

My 2 cents BTW: for the record I had a new water heater taken from me by a tenant 2 years ago.

They are on a fixed income but pay their rent like clockwork every month.They are an older couple, take good care of the property (the stuff that wasn't fixed really wasn't their fault (old leaky water heater, crumbling chimney, no railing on the front steps).

I was very inconstant with my trowel pattern to give a rock look.Step 4:After drying overnight-Hydrate-use sprayer and soak everything with water thenImmediately after-Stain-use sprayer Repeat if darker tone is desiredStep 5: After drying overnight Apply top coat with a paint roller15 minuets in between coats 3 coatsLet dry over night (BAD FUMES so don't stay in house long)The whole project wasn't that bad...even a little fun.

I go there once a month to collect from the drop box, sign a lease with new tenants, or whatever else needs to be done.

I will check out Tacoma though as well, I'm a fish out of water in that town.

Here is my dilemma: I live in Northern California where house prices have hardly dropped and my community has currently 1 house below the $400,000 price.

Being so new I would the more experienced opinion of the wiser BiggerPockets community.Here is my dilemma:I live in Northern California where house prices have hardly dropped and my community has currently 1 house below the $400,000 price.We are near a University and the rental market is always busy.I'm currently looking at two houses.A Duplex that rents for a total 1700 / monthA Fourplex with rents that total 3950 /monthThe duplex, I'm thinking of offering 215k bank wants minimum 235kFourplex I was thinking of offering 400k Banks wants 465kAt these prices my calculations don't seem to cover the 50% rule.I'm doing FHA or Conventional with only %5 down.Doing my calculations, at the prices they are asking I don't even get a Cap Rate of 6% or the 1% rule.What do you guys think?

Written into the lease is tenant will pay for sprinkler irrigation once a week.Soon after the tenant complained that the water bill is too high.

Imagine a small water leak from a shutoff underneath the sink.