Maybe I should just bug @Brandon Turner about how his is going...

The fact that each unit pays its own electricity.

Before you spend hundreds, I would buy some food grade diatomaceous earth and apply it to the entire unit - bed frames, mattresses, furniture, floors, electrical outlets, and anywhere else the bed bugs will nest (need to reapply for a few weeks).

The man next door is also the person who is supplying this shed with electricity via an extension cord.So now here I sit waiting for my court date for an ejectment since we were never in a landlord/tenant situation.

The first unit is currently rented to an older man who works for the electric company n is said to pay hes rent on time every month.

My name's Josh McNicoll and I'm the first in my family to have not only been bitten by the real estate investing bug but also to have done something about it--my wife and I purchased our first (and so far, only) rental property here in Seoul, South Korea about 5 years ago.

Electrical, Plumbing, Asbestos... any of them could completely wipe out his profit.  

The properties is class C and neighborhood class BTotal building square footage: 48,513 sq ft,  built  in 1947 Listing Price $1,800,582.5 0.095 OPERATE INCOME Annual % RENTAL UNIT INCOME $363,504 0.05 Vacancy 5% $18,175   GROSS OPERATING INCOME $345,329     OPERATING EXPENSES   Advertisin $272   Trash Removal $1,320   Management 8% $29,080.32 0.08 Supply $16,611     Landscaping/Snow Removal $1,866     Replace/Repairs/Supplies/Maintenance % $30,825.14 0.0848 Water/Sewer $19,214   Utility House Gas/Electric $10,924   Real Estate Taxes $54,100   Insurance $10,061   TOTAL EXPENSES $174,273   NET OPERATING INCOME $171,055   LOAN WITH 20% DOWN $360,000 $1,800,000 DEBT SERVICE (1) ($97,524.99) 0.2 DSCR $1.75   CASH FLOW $73,531   CASH ON CASH RETURN 20%  I add 5% for Capital expenditureand vacancy rate to 10%, now the Price about 1.5M VALUE $1,494,473.9 0.095 OPERATE INCOME Annual % RENTAL UNIT INCOME $363,504 0.08 Vacancy 10% $29,080   GROSS OPERATING INCOME $334,424     OPERATING EXPENSES   Advertising $272   Trash Removal $1,320   Management 8% $29,080.32 0.08 Supply $16,611   Landscaping/Snow Removal $1,866   Cleaning/Maintenance   Repairs/Supplies/Maintenance % $30,825.14 0.0848 Water/Sewer $19,214   Utility House Gas/Electric $10,924   Real Estate Taxes $54,100   Insurance $10,061   Reserves/Replacement 5% $18,175 0.05 TOTAL EXPENSES $192,449   NET OPERATING INCOME $141,975   LOAN WITH 20% DOWN $300,000 $1,500,000 DEBT SERVICE (1) ($81,270.82) 0.2 DSCR $1.75   CASH FLOW $60,705   CASH ON CASH RETURN 20%  ThanksLong Khang

The house has three bedrooms, two and a half bathrooms, electric everything, and a two car garage. 

Keep in mind a $300-$400 HOA fee really isn't too crazy as that should cover your water, sewer, some insurance, gardening, and outside electricity among other things.