Owner pays Water/ sewage and trash removal, while tenants pay electric and gas.

You're talking about putting in a huge amount of plumbing, electrical, etc.

The rural development loans didn't work for us this time due to the lifestyle up here, with an eye towards renting to single families, we didn't want to add the caveat of having to haul water to a dry property, and most renters want amenities such as electricity and plumbing lol.

So I am the name on the Electric bill and my son collects money from his room mates and makes the payment - however, the prop mgr has put 2 more tenants in the house which the kids do not know - one is an employee of the prop mgr and the other is a student of the school with documented paranoid schizophrenia (sp?)

Hi Everyone, I have a signed contract for a three unit property for 43,500 the rents are 2100.00 a month and the insurance is 85.00 month I have to pay electric and have the last 6 months none over 350.00 taxes are 625 yearly.

Over the past year I replaced the roof and updated the electrical so now all the wok that is needed is drywall, plaster, flooring, and windows in a historic district.

There are possible electrical and roof issues with the property.

There was a contract on it but the buyers backed out because the house failed inspection for plumbing and electrical issues. 

-Taxes: $292 per month-Mortage payment to bank: $382 per month-Vacancy @ 4%: $76 per month-Repairs and maint @ 3%: $57 per month-Cap ex @ 3%: $57 per month-Property management @ 6%: $114 per month-Monthly insurance: $100-Monthly payment to current owner: $333-Water: $80 per month-Gas and electric: $200 per month-Rent: $1,950 per month.  

Ask your friendly title company to create a HUD-1 for youWith the offer attach pictures of all the ugly things about the property; the landscaping, broken windows, bad walk ways, bad fencing, green water in the pool, any nasty pictures of the interior, the estimate amount of renovations neededWrite a cover letter stating what you will do if they accept your offer; secure the property, insure the house, pay all cash, take care immediately of the roof problem, protect and secure the house form squatters, have the electric turned on, notify the water department, notify the local police to keep an eye out for vandals...etc.Since no one at the bank can make a decision as fast as you want, put a drop dead date in your offer.