Now you guys got me thinking. We finally agreed for the purchase price of 72K. The rents are in the range of $900-$1000. But the HOA fee is 200$. Ridiculously High. Water is included in it.
Other than HVAC and water heater (12 yrs old), he purchased new washer, dryer, dish washer, microwave. He replaced the carpet with laminated floor and tile in kitchen. Also all the counter tops are granite. He put closer to 10 grand on upgrades after he bought the property.
I'm thinking the same thing since water is included. Bottle the water and sell it.
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