I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

When I consider the risk and the rebuilding costs, I am surprised the insurance is not even higher price.We got a referal for our CA FAIR agent from the RE agent and they were real responsive. 

For these, costs tend to double across the board, especially for older buildings.

Also you should inquire with insurance agents about the cost to insure.

When evaluating a property management company, it's important to look beyond just the management fee and consider the full scope of services and costs involved.For example, at our company, we charge a 10% monthly management fee, a $250 lease renewal fee (unless it’s a takeover tenant, which requires additional effort to establish a strong relationship - because usually people are changing pm companies for a reason), and the first month’s rent as a leasing fee.

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

We needed to build more there but the cost to build has doubled and the return is t sufficient.

Houses out here cost average $1.3M and rent for $4,000 per month. 

Consider this the cost of your education.

If one tenant has been in there for that long, there will also be some serious capex and turnover costs.