Even if it drains towards the house, it shouldn't be leaking in.

FYI--it sold to the last owner before the peak for $550k.5-plex in a B-/C+ area. 5 electrical & gas meters, 1 water meter.Purchase price $375kCurrently fully rented at $3550Monthly Expenses:Prop. taxes $406 (1.3%)Pool $110 (per seller)Gas $75 (per seller)Trash $102 (per seller)Water/sewer $63 (per seller)Electric $312 (per seller but this seems twice as high as other props)Insurance $100 (my estimate)Gardener $100 (my est)Prop mgr $350 (my est)Vacancy $350 (my est)TOTAL EXPENSES: $1968I'll put 25% down at 4% fixed for 5 years, amortized over 25 yrs.P&I: $1484The rents are pretty good but the expenses seem high however every multi-family I look at has high expenses.

Not that anyone ever companied about more cash, but I don't need money to put gas in the car or food on the table (set for 1).

I live in the Washington DC area and now own two condos, both positive cash flowing, one at +$340 (cash/cash @ 11%) and the other at +$330 (cash/cash @ 8%).A friend in NC alerted me of a deal on a fourplex (not on market) but here are the specs:Price: $240kCurrently fully rented at $2100/month (four each at $525 -- other identical fourplexes rent for $550, so I should be able to squeeze an extra $100 within a year).Monthly Costs:Electricity: $20 (just for some common area lighting -- each unit has its own separate meter for electricity and gas)Prop taxes: $90Water: $125Garbage: $50Septic: $30 (Costs about $1000 and need to do it once/3 years)Landscape: $50 (my estimate)Manager: $100Insurance: $100So total monthly costs are $565Assuming I can finance 75% on a 30 fixed note @ 5%, P+I should be $966.

I'm getting $825 per month with the tenants paying gas/electric and taking care of the lawn care.Overall, it's a great deal, but it did come up at a bad time as I was trying to rent out both units in a duplex and I still have another single-family home waiting in the wings for me to rehab.

Tenants will pay water, electric and gas

All expenses are accounted for in NOI's (gas/electric, property tax, property insurance, maintenance and condo fee).#1 $199,900 asking price, $13,500 NOI/yr, 2,080 sq.ft

Hi, I have a new topic:  Insurance Coverage for vacant properties in which a water leak has occurred, racking up $7,000 in water/sewage costs within 3 weeks.Does anyone know of insurance coverage to cover the water/sewage bills for such events, whether vacant or tenant-occupied (in which a tenant was away, for instance)?

Her money pays only daycare and her gas and spending money.

No water problem in regards to leaks around the windows or in the basement - but this is on the weather side of the house and receives a ton of hard rain.The concrete foundation is extremely hard (very old concrete).