I came across a cash flowing multi after getting all the numbers from the seller.
The seller currently pays for water, and heat, but charges pretty solid rents of $1200, $1050, and 950. for the area.
Heating costs every month are around $700 per month.
My only concern is the fluctuating costs of oil.
I have a couple multis where I pay the heat up in MA. Its not ideal but its how it was when I bought them. Buying 6 boilers and separating is not financially viable right now. I just monitor the oil bills and keep an eye out for open windows in the spring and window A/Cs in the fall. It just requires a little babysitting. Increased rents cover the oil bills.
I've found that paying utilities for tenants can be beneficial as long as you have their respect and they will not abuse it.
If your cost is $100/unit/month, tenant would rather pay $150/month to you rather than put the utilities in their own name. As @Rob Beland said you can usually cover your costs and then som.
I have a friend who bought a condo a few years ago and all his bills are included in the condo fee. Apparently it was a former apartment complex built during the 60's heyday of "all bills paid" apartments. Imagine paying the electric bill for 29 condos during a Houston summer. His condo fee is pretty high, though, at $700 a month.
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