They are obligated to pay yes. but that does not always happen.you can't get water from a rock.It is just part of the business.

If the guy is just this side of a crook, then he'll reject any deal that would allow the buyer to make money.Here are the numbers as I see them: (notes here)Mortgage Rate 5.00%Length of Mortgage in years 15Monthly Mortgage payment $1,601.36 (195k principle)Taxes $125.00Sewer and Water $300.00 (I don't have a clue how much this costs where you are, but this is about what it would cost me to run 9 units)Trash $200.00 (I have 7 units on a $150/month dumpster)Heat/Utilities $- (Are there any common lights?)

Maybe the current past retirement age owner just didn';t want to fool with the financial calculator math to figure out if it made sense.I do know that one park had master and sub meters and there was a 30% difference in water used at the master vs out at the sub meters.

The owner supplied the numbers for Gas/Electric/Water.

So one of my tenants has a $700 water bill.

.: $1,800Repairs(Not Much Needed): $3,200Utilities(Water, Common areas electric): $1,500Maintenance(5%): $1620Lawn/Snow Removal: $1200Total Operating Expenses: $12,520Net Operating Income: $17,180Annual Debt Service: $9155Cash Flow: $8025Cap Rate: 9%CCR: 16%Am I missing anything?

You really got hosed on that "upgrade".

The community here can definitely help you navigate the REI waters.

Thought to be “dead in the water,” the Johnson-Crapo bill lost some steam last week when six Democratic Senators removed their support.

Another questions is about the condition of this house.This house will be sold as as-is and the bank won't turn on an electric, water or gas for an inspection.