Plumbing is PVC, no worries of lead base paint and electrical wiring is usually solid.

Hello Fellow BPers,2 Questions for you:(1) If a tree falls in the backyard and knocks over some electrical lines leading to the house, does homeowner's insurance cover that?

Getting water and electric to it can be done fairly easily but drainage is another issue and usually pretty complex and expensive.First thing to do, before anything else, is to check with the county (or city as it may apply) and see if they would allow you to convert the garage(s).

Plumbing and electrical and structural changes do.

Hey Taylor,Commonly, the landlord is stuck paying for water and garbage, and in some cases even electricity.

That being said I actually ran your numbers through a proforma I use and here is the break down for that: Purchase price: 129,900Effective Gross Income: 22,086 (vacancy 10% of gross income; 2454)Expenses:Expenses%EGITaxes $ 4,618.00 20.9%Insurance $ 1,500.00 Heat $ - Electricity $ - Water / Sewer $ 1,200.00 Trash / Recycling $ 180.00 Lawn / Snow $ - Management $ 2,208.60 10%Repairs $ 1,104.30 5%Capital Expenditures $ 1,104.30 5%Supplies $ - Accounting / Legal $ - Miscellaneous $ - Total Expenses $ 11,915.20 54%NOI: 10,170.80Financing: Down Payment $ 32,475.00 25%Bank Loan Amount $ 97,425.00 75%Interest Rate5.50%Closing Cost $ 7,794.00 6%Loan Term (years)30Monthly Payment w/ ESCROWDebt Service / yr $ (6,638.02)Debt Service / mo $ (553.17) $ (1,063.00)As is your property you're looking to purchase is valued at 7.8% cap rate and will produce cash flow of $3500/ year.

Walk in shower, small vanity and toilet, drywall installation, plumbing and electrical, cost effective materials.Are we bring unrealistic in assuming we can get this done for $15k if we did some items like tiling and flooring ourselves?

Both land sites have utililities (electric/water)What questions should I ask the city/county when I call to inquire about zoning and r-plotting?

Am having hybrid electric water heaters installed for each unit so the hot water cost will now the tenants responsibility.

I highly recommend maintaining HVAC, plumbing, and electrical outlets.