Next is regulations, checking with city to assure it's legal to do. 

It's a complete roll of the dice when you switch to the smart meter, so this doesn't surprise me....it could go up or down depending on the actual water uage.  

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

Between the time associated with making the investment, tied up capital and associated stress involved, even if the investment breaks even or produces a small gain most would look back and wish the money sat in their account until a better opportunity presented itself.

As I approach the end of my current lease, I'm eager to embark on a journey of house hacking with multifamily properties.

The biggest reason I would advocate for mixed use is for the reasons you mentioned, the leases are longer, but also the general "issues" around tenants on the residential side don't come into play as much or at all. 

I would contact an attorney to get the ball rolling and see what's next

Thank you so much for the information, my eviction has been filed with the court so I'm waiting to hear about the date next.

I plan on starting out next year with a small plug and play solution to have minimum risk.

I would be very careful with a lot of course or guru in general right especially a price tag like that what I would always recommend reading the contract and see who is the person more in favor and if its not you then dont sign up very rare to see someone actually benefit from a course.