I need advice on a duplex i am buying in norfolk va its a 3br 1.5 bth and 2 br 1 bth home thats on market for 199,500 asking price. rental income is 1725 monthly. expenses are 180 dollars on water bill.

Went into Boston once but favorite was going to Rockport on the water.

Previous owner posted an estimate and got an estimate from a group on what the rehab would cost: 400,000 total with each unit metered separetely for water, gas and electric I will have my own group come in and get an estimate on what they will charge, but using the 400K right now as rough estimate.

Is your water services is lien-able to the property?

I like your answere, a thristy man does't care about the glass as much as the water in the glass.

Excuse me while I go clean myself with boiling water and bleach....

Building credit is a long process, but mainly you need new good credit reporting to "water down" those old late payments.

My #1 rule of seminars is that if there are pictures of estates, expensive cars, or blue water (pool or ocean) being displayed on a screen in front of the room, someone is going to get excited and eventually take a big loss.

I am guessing that water and heating was paid by the last owner as I found one huge water heater and two furnaces during my physical inspection.If I have to pay water and heating for all units plus common area and my rental income is $400 per unit, that will be a BAD investment.

I tell tenants before they move in, and it's written in my lease agreement to contact me immediately with any maintenance issues so I can address the problem.I had a tenant once that let a leaky toilet keep leaking until she got a 500.00 water bill.