It is a great service to the residents though and may give you a better selling point over your competition justifying higher rents.

Water because the cities here have the ability to lien a property for unpaid water bills and trash because tenants have discontinued trash service when moving out, left a big pile of trash, and the city gave me a violation because of the mess.

. / $4,166.67Annual debt service “DS”Revenues:Monthly AnnuallyRental Income$935$11,220.00 (RI)Vacancy @ 8% ($74.80)($897.60)Net Rental Income $860.20$10,322.40 NRI)Operating Expenses:Property Tax- 1800 (this is being challenged currently, but no ruling at this time)Insurance- 1000 (estimate, I will get a quote on this for sure.)Maintenance- 1200 (Estimate)Utilities- 800 (Estimate)Advertising- 100 (Estimate)Total Operating Expenses (*Very Estimated*) = $4900 (TOE)Net Operating IncomeNRI-TOE= NOI$10,322.40-$4900= $5422.50 (NOI)Total Cash FlowNOI- DS= TCF$5.422.40-$4,166.67= $1,255.73Return on InvestmentTCF/ TCO= ROI$1,255.73/ $5,000= .2511 (25.11%)Cash on Cash (Considering- Down Payment, Upfront Repairs, Closing Costs)TCF/ TCO (W/repairs and closing costs)$1,255.73/ $6,500 ($5,000 DP + $0 Initial Repairs + $1,500 Closing Cost) = .1923 (19.23%)My thoughts regarding this deal: I think the asking price is a little high for the property considering it’s age, condition (off of visual inspection from the street level only), location, what limited comps I could find.

I'd run away.Figuring 50% expenses, his $4,000 of income equates to $2,000 to service debt and have cash flow.

You will need to make him think that the you and the seller have a good rapport so he doesn't even think about circumventing your relationship to this thing.And then you will bring psoturing and attitude together and let him think that you find great deals like these regularly and you will need his services on future deals if he handles this one correctly at a good price.Use posturing and the right attitude correctly and you don't have to worry about the contractor trying to get slick.

His response "who cares the landlord will pay for it" was not what I wanted to hear.Be careful with vendors and rental property, some do not realize or care that a real person has to pay for their services.

Lenders and servicers do sort of know how to play the game.

MLS does not deliver a "value" it is a listing service and database query from public records and agent entries.

Our title attorney won't close without the insurance policy in hand.Edit / Addition:Are you using a loan servicer and escrowing the taxes and insurance?

To get passed some of your temporary limitations (no car, no money), how about partnering with someone or offer your services to someone else?