I own and rent out a SFR that brings in brings in $300 after utilities and mortgage/taxes/insurance.

The occupied units, though paying market rents, were bleeding the firm with various utility costs (ie. $11k in fuel expenses last year on a 3 unit, 5 BR building grossing $27k.

I currently work at an engineering firm designing HVAC/Plumbing systems.

It's designed to help working families.

Is it fully developed with roads and all utilities in?

A better approach would be to list ALL your monthly expenses minus housing costs (rent, utilities) and see where you are at with income vs. outgo.

@Fran Flanagan - Your estimates are pretty close but we also have escrow payments for insurance and taxes in addition to the utility bills.

So if I want to change a window, a door, replace more than X amount of sheet rock, add/remove/move a wall, fix any electrical, change out plumbing, replace AC or just about anything else I need a permit pulled by a licensed contractor otherwise the city will fine me, shut down my job and have my utilities disconnected if I don't comply.

I built one more building of four designed the same way but the final 20 units I changed floor layout but kept the exterior the same selling these for 225,000.

I work that into my acquisition numbers.An older furnace, also drives up the Utility bills for tenants and they move out quicker because of it.