Like a $700 water bill that should have been $200 ...obviously a leak or issue but they don’t bother to check they just pay it out of your money.....or an electricity bill of 1k on a vacant unit ...happened to my friend who had squatters in there and was baffled they didn’t question the bill or go to the property and check out what was going on.

The electric meter for our foreclosed property is on this side of the house, and the neighbors have a fence in the back yard that is colinear with the edge of the driveway.

(1st floor tenant shovels snow / the hallway lights are tied to apartment 4B's electric bill so the tenant only ever pays $35/month / etc)Quadruple check the money situation BEFORE closing. 

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?