The house needs work after the initial showing, foundation problem cost $12000 dollars to repair, roof needs to replace within 2 years (showing signs of wear) so another $ 5000, plus minor wood rots and other things $3000 if I do the work.  

I feel it's wise to have at least 3 months of income set aside, initially, before I do my first deal. 

This is for initial analysis of a potential project.Thanks!

This is for initial analysis of a potential project.Thanks!

My initial thought was going to be to purchase a 100k or so house for my folks with cash, (and have them pay me a reduced rate for rent) but now I'm not so sure that is the best way to go about it.  

You may need to pay the bill yourself if the utility won't budge because you still have a responsibility to your newest tenant.For the future, when a tenant moves in call the utility company together and initiate the change in name for utilities.

I'm not saying you can't raise rent, but do so with sufficient notice and in a way more constructive than your initial approach.

Over time the return on your initial investment tends to increase however because the value of your property is going up the return on your equity is often dropping.

He was very helpful and there was no charge for an initial meeting and consultation where he answered any of my questions. 

From my initial reading into the local economies, it seems that Worcester is the main powerhouse town and Shrewsbury is a more recreational, commuter, rural town.