They are being sold snake oil.

Tenant pays own utilities including his forced air oil fired furnace.

@Dan Oliver @Adrienne G. 

TopicHow to Analyze and Select a Target MarketSub TopicsHow to select potential MSA's or marketsProperly review stats/demographics to select target market (population/employer growth, employment industries, % of total jobs in a given industry such as oil or car manufacturing, rent/price ratio, etc..)How to select certain neighborhoods in your target market.

@Donald FlynnCheck out oil and gas leases.

The local economy is tied to oil and gas so much so that in 2014 Forbes listed this place as a top 10 fastest growing small cities in the US.  

I think I'm not getting it, so need someone to say ' hey, stupid' this is how it works..help and advice here would be appreciated...My other choice is to flip and take the money into the next deal, but I do like the idea of 'Oil well's' just pumping cash flow each month, but again, I can't get over the 20K loss, and I'm sure an investor won't either.

Our agent doesn't want to buy it because she just closed on 2 properties and is tapped out for the moment.Property Details:2 unit, upper (2nd/3rd floor) and lower (1st floor/finished basement)List Price: 175kAgent's suggested offer: 160kOwner pays:Taxes: 2600 yearlyInsurance: 800 yearlyOil heat: 1200 (last year with low oil prices) yearlyWater/Sewage: 1400 yearlyTrash: 400 yearlyMortgage @ 160k with 20% down: 611/month1st Unit: Rents for $950. 

Gas might not be an option and oil isn't viable for split utilities for a 4 unit. 

The 1950s is when the "latex" paints became good enough that the switch away from oil paints ocurred.