If its under water Also who was servicing the loan and what state is it in.

However, the Most alarming thing is they have allowed the water bill (they pay for all utilities, but the city bills the water to me) to mount over $2k over the last several months.

@Mario CastellanosBIG assumption but if accurate it means the property is under water meaning they owe more money on the property than it is worthThey would not be able to sell it without lender permission essentially.

I would connect with local investor agents that invest themselves and see if they have a team that cold-call and can bring you off-market deals. 

The zip codes are 39211 and 39047.Would you say your comments hold water for those zip codes?

If landlord pays water/sewer, and with more occupants you know you will see higher water usage, think you could make a logical case for some additional rent or per person fee to cover that. 

I started/continued cultivating about half dozen different commercial brokers, by taking incoming cold/warm calls from brokers for off market offers(calls I used to just hang up on) from their fund buyers and deep pocket private investors, and soon realized(as few of the brokers had warned) that off market deals for this asset are always gonna be low ball, no matter how premium my location.

Problem with including utilities in the rent is some tenants can abuse it (eg leave water running, windows open, etc).

Water & Sewer Service7.

I don't send email newsletters, cold call or door knocking.