Jonathan, I struggle with the same issue of not having enough space for parking - partly due to residents using more spaces than assigned to them and partly due to them not utilizing the space that is available (parking crooked). 

But that is very true, you can make the cheapest material look expensive all depends on you.

Landlord pays utilities.

While you're at it, it may be a good idea to see if there's a mahogany rocking chair hidden beneath the material of that recliner. :-)

)                           -   Gross Monthly Operating Income              32,642.00 Monthly Operating Expenses Monthly Property Management Fees                   832.00 Repairs and Maintenance                1,000.00 Real Estate Taxes                5,241.00 Rental Property Insurance                1,959.00 Homeowners/Property Association Fees   Replacement Reserve                2,000.00 Utilities                1,291.00  - Water and Sewer    - Gas and Electricity    - Garbage    - Cable, Phone, Internet   Pest Control                   155.00 Accounting and Legal                   150.00 Advertising   Monthly Operating Expenses              12,628.00 Net Operating Income (NOI)   Total Annual Operating Income            391,704.00 Total Annual Operating Expense            151,536.00 Annual Net Operating Income            240,168.00 Capitalization Rate and Valuation   Desired Capitalization Rate 10.00% Property Valuation (Offer Price)         2,401,680.00 Actual Purchase Price         3,100,000.00 Actual Capitalization Rate 7.75% Loan Information   Down Payment            620,000.00 Loan Amount         2,320,000.00 Acquisition Costs and Loan Fees              60,000.00 Length of Mortgage (years)                          30 Annual Interest Rate 4.970% Initial Investment            680,000.00 Monthly Mortgage Payment (PI)              12,411.76 Annual Interest            114,527.10 Annual Principal              34,414.02 Total Annual Debt Service            148,941.12 Cash Flow and ROI   Total Monthly Cash Flow (before taxes)                7,602.24 Total Annual Cash Flow (before taxes)              91,226.88 Cash on Cash Return (ROI) 13.42% The property is being given to me after completing 40 year certification (updated plumbing, electrical, parking, most units are decently remodeled.

Are there commonly utilized Lawyers & Accountants that specialize in these things used by the BP community?

And that assumes you're cleaning up the landscape - er, concrete - and all utilities are billed back to tenants, there's no pest control, and no trash expense. 

@David Medina  - The material they teach is accurate, and from people who are active investors. 

All utilities would be paid for by each unit's tenants.  

Sounds like a lot of potential there...hopefully there areno other issues with any other bills or utilities!