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. 

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

As you are finding out, it is so local that the next door building effects your investment. 

•This additional income can help offset costs and increase your total reported income for future pre-approvals.5.

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).

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

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

Starting with house hacking is a smart move, especially in a higher-cost area.

$10K savings to you or higher cost to you?