Now you may have to get it rezoned , this may take a year or two and you have to fight some neighbors , then you hire an engineer to lay out the lots , roads , water and sewer , which isnt cheap and may take another year or two .

I'm just glad I was able to point it out to my clients before proceeding further, which could have led all parties into a sticky legal situation and me in hot water, like you mentioned. 

Need to keep the following in mind: 1) You will need a good team including attorney, RE agents, handymen, etc.. at a minimum. 2) You will need to rely on these people from a distance. 3) A hot water heater or other repair items from a materials standpoint is going to cost relatively the same.

I feel like I'm a fish out of water here a bit.

It is up to you to see which comps are most relevant to you, but likely if you underwrite $250k in income as an across the street comp you will be under water by $50k and that is not the software's fault.

The lease states the landlord is only responsbile for water only.

I'm not trying to be harsh, but "forcing" a deal has gotten me in hot water in the past.

.💡 Utilities – If you pay for water, gas, or electricity, those are deductible.🧹 Cleaning & Landscaping Services – Routine upkeep expenses.💼 Professional Fees – Legal, accounting, or property management services.🧑‍🔧 Contractor Labor & Supplies – Any materials or hired help for property improvements.🚗 Mileage/Travel – When traveling to inspect or manage rental properties (keep mileage logs).💻 Office Supplies & Software – Including bookkeeping tools, printers, and even part of your home office.Creative Ways to Give Back — and Still SaveGiving back can also be tax-deductible when done thoughtfully:🎁 Tenant Appreciation Gifts: Small gifts such as gift cards, snacks, or holiday baskets (under $25 per tenant per IRS rules) can be deductible as a business expense.🏘️ Community Donations: Contributing to local charities, shelters, or community events near your property may be tax-deductible if donated to a registered nonprofit (501(c)(3)).🧤 Property Improvement Drives: Donating old appliances, furniture, or materials from renovations to nonprofit organizations like Habitat for Humanity can qualify as a charitable deduction.Pro Tip:Before December 31st, review your receipts, invoices, and bank statements.

One meter for water & sewer - So every month I just split the bill halfway since there are the same amount of people living in each unit.  

I’m based in Oxford, MS, and have been watching a property over in Water Valley that just had a pretty big price drop — it was listed at $110k and is now down to $79k.