Just because it was the 1st mortgage doesn't mean that ALL other liens are wiped, certain liens cannot be foreclosed out including COA liens and municipal liens (special assessment, lot clearing, securing, utilities, etc)718.116 Assessments; liability; lien and priority; interest; collection.— (1)(a) A unit owner, regardless of how his or her title has been acquired, including by purchase at a foreclosure sale or by deed in lieu of foreclosure, is liable for all assessments which come due while he or she is the unit owner.

I'm going to utilize BP to learn and share.  

If you utilize several per year, perhaps 3 or more, then you are required to be a mortgage originator and are subject to the full provisions of the act.The application of the act is very fact specific and legal counsel is very important in this area.

Katrina - A couple of points to considerUtilities - you don't mention if the tenants pay all or there are any landlord paid utilities.

2) How to do about getting public utilities?

Find out Lot Rents, Utilities, and other charges, find a moving company and figure out how expensive it is.  

Set to be completed in the Summer of 2017.The Following Info is according to the information from the Developer:Purchase InfoInitial Market Price: $700,000Purchase Price: $649,900Initial Cash Invested: $187,475Income AnalysisNet Operating Income Annually: $52,484Cash Flow Annually: 22,847Financial MetricsCap Rate (Purchase Price): 8.1%Cash on Cash Return (year 1): 12.2%Internal Rate of Return (year 10): 19.6%Sale Price (Year 10): $896,059Rental Income is forecast to be $1,400 per unitUnits are 3bed, 2 bath and a garageUnits are 1,600 SqftI feel that the seller is optimistic on some of the numbers so in my calculations I have increased expenses (CapEx budget, management Fee at 8%, Insurance, Utilities) and I have also increased the vacancy rate from 3 to 5.2%. 

There are several options:- Guesty + cleaning services: apparently Guesty can interact with guests and contact/manage an outside cleaning service. guest does not have their own cleaning team and is an online service only.- Superhost: same thing as guesty?

After the presentation I immediately upgraded my mentality and account from a "normal Joe" to  PRO to enhance my experience and utilize all that BP has to offer. 

I also question the expenses on vacancy and utilities rates.