Tenants save money when using a shared meter, so there's plenty of room for error when calculating how to distribute the charges.

This property will lose money for anyone not paying cash, and if they are paying cash they will make a very low ROI. 

All this is to say, I believe it would be money well spent for sure... 

@Olivia Blake how much money will you potentially lose by strong-arming a tenant and then having them break the lease early - or even just not renew?

It is clear from the interview that their main skill set is raising money and they partner with other "Co-GPs" who focus on the operations. 

Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

Is it hard money loans, angel investors, etc?

DSCR loans are not that low and regular hard money loans will be in the double digits.

I tried it in an apartment complex and it was an absolute dumpster fire and lost a lot of money.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?