A very good book to read is Rich Dad Poor Dad it will give you some "Tackling Fuel" like Adam Sandler said in the movie Water Boy!!!

I also didn't have the typical water bill charges and such being that I lived in the property and made sure all was current before closing ( I suppose I could have put this toward the cost of the flip but since I was living their I paid it as a personal monthly expense)My numbers above were ~(about) numbers and rounded based on my memory from 5 years ago.  

I agree with Bill - while you'll need to plan for as many of the expenses as you can upfront (maintenance, HOA if any, water bills....etc) If you can have your payment half of market rent you should be ok

It is watered for two weeks.How do you seal?

I would be a little concerned as to where water going thru the crack is ending up.

The house was built in late 1980s, 2300 sqft, 3/2 with a water view (not water front).

I am here because I fully understand that I have a huge learning curve to go through before I even dip my feet into the water.

Most single fam around here are going for 50 to 70K, but the sales prices in the last 10 years had been pretty similar.Electric and water meter are separated [paid by tenants], only issue is heat is gas, and it's not separated, so I'll have to built that into the rent.Other similar rentals on the block are asking around 750 to 850 where tenants pay for all utilities. 

yeah still reeling from the notice placed on door by utility co notifying each of us water due to be shut off on Monday.  

Kellie, get a little water under the bridge with your 4-plex, then decide if you want to go bigger.