My biggest concerns are I don't know what it will take to get them metered separately, different residences, etc.

I found that for the same money (you are paying CASH right-as borrowing that amount is suicidal), I can flip it, at probably $40K-$50K, get $2K downstroke, charge about 9%-11% on a 30 year amortization, 5-10 year balloon and come out much better.The biggest downside is the "rural" part.

The biggest issue had been the utility bills in this home.

The biggest advantage is that the headaches are seriously reduced.

But there could be additional items that could alter this view, the biggest being the ability to push the rents up significantly if the market rates are much higher, or the seller offering insanely great seller financing terms coupled with the ability to push rents aggressively in keeping with market forces.But if $325 is near the market rent, and there's no seller carry, this deal is dead in the water.

Actually, my biggest frustration is in fact people who say they'll do something, and then don't.

@Brant Richardson this is the biggest issue I'm stuck on right now.

Also call 3 additional references and ask how he was when he was working for them--any problems.The biggest boaster with the lowest (or sometimes the highest) bid doesn't always live up to what you desire.ALWAYS pre-check your contractors previous work before hiring them (a dog doesn't change his spots).And if you want to LEARN about painting here is a link to one of the most popular paint learning channels: https://www.youtube.com/watch?

You're also missing your biggest expense, heat and hot water for an leaky, likely un-insulated old house. 

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