We are going to reach out to the power company to get records on 12 month high & lows to get an idea of annual electricity costs.  

The property consists of two building that were built in the late 1930's, and had little improvements/maintenance since the late 70's/early 80's.

After this deal is complete, I would have a property that the cap ex would be low for many years to come and I may be able to 1031 or something along those lines into something larger. 

While I don't go over the top on my rehabs, I believe spending a little more now means less maintenance.

The commercial space exterior also needs a face lift, but there are grants available for this that will match funds up to $2,500.Expenses:Management: 8%CapEx: 5%Maintenance: 10%Taxes: $3400Insurance: $2900Levy/Rental Fees: $1000Sewer: $1400Water: $1080Garbage: $900

Im 24 with a family, I currently work in the oil industry as an AutoCad Drafter but due to low oil prices I have taken a significant pay cut, during this last year I have been doing as much research into the Real estate Industry as possible.

Meghan McCallum if I would do a brrrrr on a property it would be a long time hold and the area would be middle to low class.

They need to know where to pay next month's rent and who to call if there is a maintenance issue.  

Low down payment, while they pay your mortgage and also you can use W-2 to work on student loans. 

The only easy fix that I could think from this is that the gas line could be partially closed, causing low flame in the oven and not enough to start on the stove.