Otherwise, I am stuck paying taxes and maintenance (e.g. cutting grass to avoid fines;) for something that is worthless.

The closer you follow the above the shorter the time to fill.  

However he has made a point to stay in touch with me, so he's motivated.I know these numbers are vague to look at in a forum post but I do have all this information in greater detail in anyone would care to take a closer look at it, which again would be great.

I am looking for investments closer to home currently.

I was allergy tested for various types of molds and I was allergic to everything in the test (in addition to all fur, most trees, most grasses - basically, I just can't breathe).  

I know that there hundreds of variables to look at, and it's impossible to make a comfortable assumption with the details I've given you, but any insight would be appreciated.PS - I do not believe it is walking distance to the campus, it is closer to the college village (where the night scene is) but still not extremely close.

Trash piled in the front yard or tall grass?

Then I met with the insurance guy.Insurance guy: "Umbrella insurance will NOT cover anything related to flipping properties, that's it's own business, so you would need a commercial liability policy, which in NY is stupidly expensive do to recent changes in laws and will run minimum $5k/yr, probably closer to $10k/yr, and that's if you're only doing a couple flips per year.  

I grew up in the South Bay and I have a partner interested in joining in on a multi-family for the Beach Cities/ South Bay.Personally, if I can go it alone I would go for LA as it is closer to the hospitals I conduct business in.

Probably a decent cash flow deal if you know what you're getting into but it hasn't been B for 50+ years.What are your numbers for:- Property taxes (around 3% of city assessed value)- Grass and snow- Heat - Water- Other utilities if landlord paysI agree with your 10% each for maintenance, management and vacancy.