Lastly, check with whatever municipality this is in to see if there are rental license fees/trash fees/water/sewer etc.

This includes fire or electrical hazards, plumbing issues that can result in a lack of hot water or water damage, lack of heat, lead paint remediation, etc.

@James DolanI take the current owner does not have sewer/water line insurance?

Why can’t they sell their personal residence---- everyone does need shelter just like everyone does need food and water, yet the baffling question is... why do they need to pass the buck onto the tenant, who is the customer, for what is in reality their inability to meet a commitment they made?

$40/month for water/sewer is probably low.

It has seemed like something keeps getting in the way but I'm determined to become a real estate investor this year hell or high water!

Each month, we have tremendous Contractual Obligations and payments to make - Grocery-Bills, Utilities, Mortgages, Plumbers, Electricians, Medical Insurance Premiums, Property-Insurance, Sewer-Water, Oil, Gas, Electricity, Property Taxes, Cable & Internet, Cell-Phone, Income-Taxes...Are we now doing away with our entire system of Contract & Tort Law?

So, I still need to pay the property and school taxes, water and sewer bill, insurance, and repairs and maintenance.

Uncharted waters.

-By having tenants pay for water & sewer, electric, gas, and garbage and by dropping PMI, this property could be great if you got those terms for seller financing.