For further context, we are trying to have him be the name on the loan because he would be able to utilize his first time home buyer loan to take advantage of the lowered offered interest rate.

Would you be willing to describe a bit more about how you determined your utility caps? 

Quote from @Elisabeth Lernhardt: Today I found out, that some of the utilities were not in the tenants name!

I don’t really have an interest in House hacking if long-term rates are $700 a month incl utilities for a bedroom. 

Tenant handles all utilities and lawncare.

We were looking in the Smokey’s and in Florida but we might just shift to our hometown and house back it with the ADU unit utilized for STR. 

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

Be sure to utilize tools of the trade for the best information.

It has appreciated greatly in the west ward and wanting to keep it but don't want the people interaction.

Specifically, I’d love to hear about best practices for managing shared spaces, screening tenants, and setting up house rules.Additionally, I plan to split the utilities among the tenants—any advice on how to handle this efficiently would be greatly appreciated!