Larthsa,To figure cash flow, you list all of the monthly expenses, Principal and interest, taxes and insurance, add in any utilities, HOA fees, etc,,,then you need to figure out a fair figure for "reserves', this is a hold back amount for the hot water heater breaking etc,,,then figure in a percentage for vacancy (most will use around 5% if its easy to lease) if your going to have a management company manage, their fees,,then add,,,take the final figure and take it from your monthly rent, and you SHOULD have your cash flow (if I missed anything anyone please chime ini)If you want to figure your "cash on cash" return, figure out how much you will end up in the deal for in cash (deposit, rehab, closing cost paid in cash etc, all expenses you will pay in cash), thats your total "cash" in the deal,,now see what your annual cash flow from the property should be, divide that by the cash you have in the deal, and you should have your cash on cash.You can do this with a simple spreadsheet, it makes it very easy to look at deals, but remember, these numbers are only right IF the estimates you put in are right,,,including the anticipated rent,,too many new investors tend to under estimate expenses and over estimate rent.andy

Hot water baseboard heat runs at a lower temperature, usually around 160 degrees Fahrenheit.

A new water heater, installed, is 16 months of savings, etc.

Water and sewer bill is over 10K

You (or somebody you hire) needs to determine the source of the water causing the mold.

Literally, I'll get knee-high flowing water, 30ft wide, draining I don't know how many hundreds of thousands of gallons of water into that ditch.

The HOA’s should cover things like roof, grounds, exterior insurance, termite, water, pool, etc…The Pro of owning the whole building would be the upside in appreciation down the road if bought in the right area.

I have no idea what water bills are like in your market, but here in Philly in my experience it's been about $25 per month for a 1 BR apartment.

Is it water quality?

Unless you are paying cash, there is not a hope of keeping your head above water.