I'm baffled by how a property's water bill is so high despite there appearing to be no leak.

However, he is currently paying way below market rent at $1400 (water and garbage included) for a two bedroom/ two bath/ and a garage in Everett, WA.

I would suggest if you're open to it, New Jersey, just over the water.

The original price was $180K, but we were able to negotiate down to $165K due to the roof age and some water issues in the basement (offered $170K due to roof, and went down additional $5K in inspection).

The original price was $180K, but we were able to negotiate down to $165K due to the roof age and some water issues in the basement (offered $170K due to roof, and went down additional $5K in inspection).

.- basements are hand dug and therefore usually not deep - usually no structural issues (much more in 1960s buildings) but sometimes poor surface water management leading to damp spots.

Knowing the age of the home I still tried to hope (never a good strategy) the HVAC and water heater would hold out for a couple of years.

There is only so much inventory on the water - value will keep rising as inventory stays scarceOr would you run?

If it doesn't need water remediation and depending on where you are in the country you should expect to spend $25-75/sf finishing the space, which again depends on what it needs.

I turned the 75k before taxes into 3 doors making around 1000$/mo in pure cash flow.