No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.  

What strategies have you found to be most effective in fairly splitting utility costs among tenants?

Utilize Your Equity in the Multi-Family PropertyCash Out Refinance: Since your multi-family property in CT has significant equity (around $200k), consider doing a cash-out refinance.

Are there other loan products similar to the DSCR loans that can also be utilized for investment properties?

If you do it right e.g. always carry a reserve for repairs/vacancies, hire a GOOD property manager, keep the tenant happy by doing reasonable repairs, etc, then investing OOS is a great option to build wealth.Good luck and be sure to utilize the BP community if you need help down the road. 

transforming a room into master bedroom , utilize basement space to add sqft , fixtures , open space concept ( tare down drywalls to make open space - kitchen - living room - dining room

Is there a way to utilize part of my Traditional IRA funds as a down payment on a SFH investment property without being penalized? 

The document or whatever instrument allows this would ensure that the obligation to pay for the mortgage and expenses (Taxes/utilities/maintenance etc...) falls to the corporation and not myself and would be paid directly by the corporation so as to not look like income in the form of a transfer from corp to me to lender. 

They thought their business was a technology business with a financial component, not understanding that it was a financial enterprise utilizing a technology platform. 

So just utilizing the code will allow them to enter the property.