@Thomas T.i'd house hack first. 

And add an additional security deposit, but more importantly is "Why".  

Quote from @Moe Aly: Hey Everyone, just wanted to introduce myself, first time using bigger pockets, I am responsible for the wholesaling department in our company here in Columbus ohio and we assign around 15-20 deals a month!

Hi there,As a first-time landlord in NYC, it's great that you're being cautious about this.

@Richard Rafferty, while I generally agree with Chris, I will first ask what types of property are you looking to syndicate?

This was the very first time they had rented it; brand new landlords.

Until the lease ends and then the legal notice time in your market has passed.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Quote from @Aj Green: Quote from @Gregory Wilson: The real issue is how much of a deposit do you have to try to get back from them.Sure, your contingency might work but I assume you gave the deposit to the seller.

Quote from @Alex Yang: Professional remodeler, first time builder.