I will try to make some sense, taking the area where I live, Dublin 2, I know the price for an apartment of good quality, 50 sq meters, new-ish and one bedroom, would be 1300-1600 euros, and the price 250k-300k, give or take, that would imply that if I wanted to buy an apartment to rent it and be cash-flow positive (or equal, in the end at least you are getting an apartment) and asked for a mortgage to 30 years (don't think you can ask for longer) the cheapest I would be getting would be 1075 euros per month (and that is variable interest, always tricky), assuming 275k price (see http://www.mortgages.ie/go/first_time_buyers/mortg...) and that is putting 40k down (because you will be asked for a similar amount), if I get 1500 for the rent, and I assume half of it will be expenses (seriously that much?)

Rent-O-meter is good, but I like to find my own info.

Details: , 130K, Duplex, South Tampa (very nice area), both units 2/1, Down payment 20K, with a vacancy/maintance fund of 5k, gross income $1600, 703.51 insurance, 1066.36 2014 taxes, Loan amortized over 30 yrs, 18 month balloon, Net income per month:673.53 Annual income: 8082.37, both meters are separate tenants pay electricity and water. 

Basics: The units were just recently individually metered for power and water.

I believe you can do one water tap, just will need multiple meters or hoa to split water costs and billing. 

If the units are townhouse style with garages and separate meters it's has potential.

As this was a conversion to condo's there are actually 6 electrical meters (1 master) and 5 gas and water meters.At the rear of the property there are also 3 garages and a small storage closet.The asking price was $252k for the 1 bedroom and $149k for each studio; total asking price was $699k. 

I performed ALL other work by myself with occasional help from Family members: Complete Electrical Revamp (New wires, Panel, Meter Base, outlets, etc), New Pex plumbing, Shed revamp, Landscaping, Windows, flooring..and basically everything else. 

The breaker is ok, and all the other lights on that meter are working fine.

No electric or gas meters.