Also, make sure you're including relevant vacancy, maintenance and capital expense reserves in your cashflow analysis; not just debt service.

(ii) The cost of water, gas, electricity and telephone to service the Common Areas and any utilities not separately metered.

That makes the investment look a little better.Installing gas forced hot air will be less effective- depending on gas/oil prices, you might only save 10%, plus everyone will have to pay for extra gas service which could wipe out those savings. 

Just wondering why you would consider this since many people use cell service for internet?

Our residential screening service will not be able to screen a commercial applicant.

I just closed and was given a check in the amount of both tenants deposits.Right away you want to call and transfer any utilities that the previous owner was paying, as well as call and set up a time to introduce yourself to them, as well as lay out clear guidelines and expectations as to what to expect with you as the new owner, ie. where and when to send payment, contact info and info on what to do if there are any issues that need to be addressed.I just closed on a new duplex and acquired tenants, i called right away and started service for water and garbage for the tenants, as well as met with them in person, I showed up with a copy of their current lease agreement for them to have as a refresher, a basic rental application for them to fill out to make sure i had the most current information about employment, tenants, contact info, as well as had them make a list of concerns and things that need repair. 

A conventional lender will want to see that the property is cash flowing, probably with 1.2 DSCR (debt service coverage ratio) and an appraisal that shows you have about 20% equity (each lender will have different criteria).

It has been hard to find good and reliable contractors to do repairs and emergency service calls.Anyone has good reliable handyman/plumbers/carpenters/contractors that can refer to me.Thanks in advance

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