How does this deal look, my first commercial loan

[Beth Doris]

I currently have been approached by a friend that an amazing 2 year old bed and breakfast is for sale in my area. After looking through the property it is absolutely stunning and I believe people do not see the potential in it as they only see the Bed and Breakfast aspect. However each unit is fully furnished with the best products, each unit has a bedroom and kitchen with large living room and deck. I would change this into a 7 unit apartment building. I have already approved this through zoning. I believe I can rent 4 of the units per month for $1,200 and rent 2 of the units for 1,600 per month. The 7th unit I would air b and b to see if there is any interest. The owner is willing to put the entire down payment in for me at $130,000 bringing my mortgage to $670,000. Here are my questions:

There are not separate utilities, each unit has its own furnace and furnace room, how hard would this be to convert to separate utilities?

My monthly mortgage with taxes will be $5,200. 

insurance is $475.00 a month

fuel is $313 per month

electric is $216 per month

garbage, lawn care and plowing is $300 per month

Do you see any where I can cut cost? It appears I will be paying out per month $6,500  but potentially making $9,000 which brings me to a $2,500 cash flow a month. 

I will hold a 25 year amortization mortgage at 4.5% The owner put more than 1. 2 million into the property when he built it 2 years ago and this does not include the furniture that he is keeping in the property.

Please let me know if you see something I may be missing. Any feedback would be incredibly helpful. Below is an idea of one of the units.