So in your example, I'm going to make the following assumptions:10,000 income (was vacant for 2 months - actual rent is $1000 per month6,000 mortgage payment2,000 HOA1,000 utilities during vacancy period6,000 depreciationOn your tax return, you don't actually get to deduct the principal portion of the mortgage payment, so your loss will be something less than 5,000.  

Or I can send you to a YouTube videos were i learned hiw to access and utilize probate.

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges or fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."

Most utility bills are pretty straight forward whether they're high or not, but the waste removal bills are a different animal.

I had a question regarding Annual Operating expenses (Operating expenses include: Taxes (property taxes), Insurance, Management, Maintenance, Utilities, and Repair.) 

I feel that they won't have problem paying the rent, but with utilities and all, plus food, etc..

Utilities not onInoperable heat supplyMissing or insufficient weather-strippingLoose or torn carpetMissing or cracked electrical outlet cover platesCracked or peeling paint on wallsCracked or broken window panesMissing refrigerator kick platesEvidence of roof leaks/pipe leaksDirty stoves, ovens or walls and unkempt perimeter surrounding houseInsufficient bath ventilation and inoperable smoke detectorsLeaking faucets or plumbingNo temperature/pressure relief on water heatersYou screen your own tenants, then you submit the paperwork to have a tenant approved by the Housing Authority.  

Even if landlord paid all utilities the gross should be 152,064 at Section 8.Asking price 299k/ last sold 2013 for 170k Any thoughts on what may be going on here?  

These two options may be better than heavy special assessments.  

They are currently over valuing the park and it looks like the only way to get a good deal is to utilize a hard money lender in town and make a cash offer.