@Jay Dewberry I aprenciate your response, thank you, and yes difinitly the wording, because it was just water damage, as for the numbers total rent would be 1650 all together, i pay water sewer, garbage 180.00 tops, and gas during winter 150.00 tops and mortgage 800.00 plus insurance 60.00And property tax 2400.00 a year, but my main question would be is it better to rewire it now, before i put it back together?

U - utilities (water, gas, electric - does the landlord pay for some of these and if so, how much are they?) 

Under no circumstances should you let a bill from your local utility other than Gas and electric get put into the tenants name.

Some of my clients we take care of there accounts are Pilot gas stations, Flying John, Wells Fargo Bank, Backyard Burger, and Legacy Apartments.

Here's the deal on the table: Off-market listing via a wholesaler, Asking $75K3/1, 1000 sq ft, Section 8 tenant in place on month to month lease (Rent=$650/month which is way under market)Home condition: Nothing I would live in, but no leaks, walls in tact, newer mechanicals/systems (hot water heater, home has a gas furnace) are all in good condition and are fine for a section 8 tenant.

Long as gas isn't on no big deal, couple of elbows and you're good to go. 

It has common water and gas but separate electric meters.

Repairs do not have to recapture when you sell the house too.)UtilitiesPre rental expenses ( expenses incurred before finding a tenant )If you use your Car: This can include- oil changes, Maintenance, gas, repairs, parking, tolls, and depreciation.

The alternative would be to upgrade the house to a natural gas generator to kick on when the power goes out - but you're looking at about a $3,500 bill for the equipment plus an electrician's time.I'm not sure it's really worth it.

I have no desire to unduly penalize these folks, but obviously this is a huge hassle and it has cost me advertising expenses, time, gas, utilities and a month of vacancy.