The worst part was that they were confused thinking it was for any problem, so they didn't report the small leak in the hot water heater because they thought they'd have to pay for some of it.  

Okay it has been several days of ownership for this propertyHere is the good:demo 85% doneNew Garage door installedlawn mowed and I did not lose a mower blade  Electrical is not bad as was expectedThe UGLYneed to replace approx 35 feet of SIL plate due to water penetrationTermites - Yup found their handy work. 

Kind of the virtual version of water cooler talk, I suppose.

Folks looking to become landlords that also want to analyze every number such as the water bills on single family houses right down the dollar may not be in the right business. 

Just don't forget that you are never far from the water in Pinellas. 

Based on the numbers above, it seems like this house might be too under water for even that strategy to work.

We had spoke with the controller, and was given a go, to go pump water out of a basement.

I'm hoping that maintenance for the first several years will be less than 3000/year as much will be new (appliances, bathrooms, plumbing, furnace, AC, water heater,roof).

The trouble I'm having is getting a loan if the water won't be turned on for the appraisal.Is anyone familiar with conventional lenders that will accept an appraisal that will be done with the water off?

Check to make sure the stores have separate gas /water / electricity (would be hard to lease out of they dont).