I am looking for those little gotchas that can surprise you - like in some areas, the landlord is required to pay garbage or water for some reason.Cheers,Robert

My tenants were confused about their utility bill, so I saw their water for August. 

The 3 unit after getting all new tenants gets $3350 a month my mortgage is $1250 a month but I pay oil water and sewer for 2 of the units the other I just pay water and sewer.

I pumped in an additional $5k (not mentioned initially) and the project is on track to be 80% complete by the end of Sep 2021. 

A lot of good information has been shared and I am pumped for real estate and learned things....

(These are not metered out so gas/electric and water/sewer is killing the cash flow).  

.$4,200 total income-$500/ property tax-$200/m insurance-$150/m maintenance-$100/m city utilities (water/sewer)-$210/m 5% vacancy (even 5% is overkill)-$2,500/m mortgage ($700k @ 2%)=$540/m cashflow - Even if you wanted to have a property manager at 10% the property would still be cashflow positive.This property only generates 0.47% of the purchase price per month (nowhere near the 1% rule) but still cashflows. 

WDOs, water tests & sewer inspections not required.Disadvantages:1. 

Get some exact numbers for the well- the number of feet you need to go down, the soil type and quality of water all matter

Also has late water bill and city wants to attach it to my Home thru a lien. ( water bill is aprox. $400)She gave me a verbal notice that she was moving out June 2020.