Also, I have to pay for normal utilities that he would normally cover for another tenant like water and sewer which also reduced the monthly rent.

Geez you have low standards .

-Settlement Fee: $595-795 depending which title company you hire to close the transaction-Owner's Title Insurance Policy: Roughly 0.2-0.3% of the purchase price-Recording Fees and other Misc: Another couple hundred dollarsFees that will only be present if you are using a mortgage to purchase the property:-Origination Fee: Varies and is typically represented as a percentage of the loan amount-Lender's title insurance: Another roughly 0.2% of the loan amount-Appraisal: $500-650-Misc Junk Fees: Processing, credit report, flood cert, etc etc etc: A few hundred to a thousand dollars depending on the mortgage companyCosts that are not fees but still need to be settled at closing:-Prepaid interest (if there's a mortgage)-First year insurance premium-Impounds to set up tax and insurance escrow accounts (if there's a mortgage that escrows T&I): A few month's worth of each-Prorated taxes, water, sewer-Heating fuel remaining in tanksWelcome to New Hampshire, and happy investing,Troy

Green Street is the gold-standard for independent research within the commercial real estate industry.

They do have a sump pump installed yet there was enough water damage to ruin the carpet the first time, and the brand new carpet is now under water.

As far as expenses, I just use a simple Excel spreadsheet and an old school notebook to write down info about each house (if it's on well or septic, city water, which electric company, school districts, etc.).

You have 4 sets of appliances, water heaters, etc.

If a water pipe breaks and the place floods, you would have to move out while renovations take place.

It was also much more expensive than I had originally been quoted.Then I purchased blinds for the property and went down there and installed those.Then we saw that there was water damage on the window sill.

Just make sure you have standard protections in the contract.