Water submetering is more difficult with smaller properties; especially older ones. 

My brother and I, both out-of-state investors, recently acquired a long-term rental property in the Boerne area (near Leon Springs).

The good applicant eventually gets tired of carrying the water for the other, leaves, and you are stuck with a bad tenant. 

I normally recommend using a Property Manager who works with the program regularly to help navigate the waters. 

I recently spoke with an investor who believes STR sales in WNC are going to hit the market like crazy in spring of 2025.

The current thought is purchase a 4 unit in the spring as a primary home and live in it for a year while renting out my childhood home and purchasing another duplex in the fall to put me at 10 doors, then move back into my house at the end of the year lease and after a year in the 4 unit, whichever comes last.

Each unit has its own electric panel, gas meter, furnace, water meter.

The biggest issue I see with first-time investors here in Denver and Colorado Springs is not that they buy the wrong thing; it's that they take too long to buy or don't buy at all. 

I'd also look to see if water is getting in or if it was just a problem with humidity.

How is the roof, the mechanicals, water issues?