You can look up the local utility company and call them to find out the cost of water and sewer.

Had to contact them for a reference this week, not that impressed with my interaction there.

feel free to interact in the forums, meet some great people, and definitely provide more value to the community by sharing your thoughts, experiences, and of course, success stories!

I am new to BP and look forward to utilizing the resources and forums on this site. 

.- it's always good to see another Hoosier utilizing this great site!

If you are determined to do the projects yourself, I would budget a year for holding cost; maybe 6 months if you are not employed (taxes, utilities, interest, etc).

Thank you gentleman for the advice, I plan on utilizing all of the resources Bigger Pockets has to offer.

Once you buy the property, depending on the circumstances, you will have to call the utility companies to get everything turned back on.

P&I = $814/monthTaxes = $280/monthInsurance = $100/monthTotal expenses = $1,194/monthProjected rental income of $800 per unit = $1,600 total per month (all utilities paid by tenants)Projected profit of $406 per month (minus any repairs).  

The couple that is staying has been the ones paying the rent and utilities, so barring anything unforeseen, it should be business as usual.