I looked into this at more than one occasion, because Milwaukee has such an old housing stock, everything is 60-120 years old.Most of the new apartments we see are 4 and 5 star developments with very high rents, this allows to offset the high cost of construction a little better.

Don't forget to change all your faucet aerators and shower heads to low flow it makes a huge difference as well as far as water usage and saving HOT water. 

With big benefit potential of possibly retaining "Graduated" persons who are now highly trained, proficient employees. 

Keep the wood (or sheetrock if you choose) an inch or two off the floor to not wick water.

Much of the country is at high risk between fires, hurricanes, tornados, tidal waves, earth quakes, rising tides, etc.  

If you meet that requirement, I highly recommend it. 

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

However, if the market turns, it could add pressure and cause you to lose your primary residence.5. 

.: Quote from @James Jefferson: Hi, I have a family member that had a reverse mortgage on their property it's a 3b 1b 1 acre of land heats by oil no hvac and on well water.

Tenant pays all utils except water.