It's not a get rich quick scheme, it's a lot of active work and I would have 5 yrs in my head at a minimum before you truly become established and stabilized. 

How are the utilities billed?

You have to cover increased utility costs.

In 2025 what strategies are you utilizing to source off market deals?

Are there investors here in Texas that have utilized and would recommend banks they hold series LLC accounts with? 

I invest out of state in Pittsburgh from DC and self-manage everything, but it's taken me years to establish the right contacts, develop seamless processes etc. that allow me to handle everything remotely with confidence.

Better hope paint,carpet,advertising, commissions, and utilities don’t cost $600 or you blew your cash flow, it’s zero.

The question behind the question is that I'm trying to figure out how to communicate with property owners that have under-utilized assets.

A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

Specifically, some of the deals I'm considering come from established turnkey companies (very reputable in these forums) that have been around for a long time and they claim very long tenancy terms.