The property comes with access to water, sewer, and electricity connections.

This is pretty much how banks do things too - the idea is that not only do you have to afford your rent - but also your electric, your food, your car, your insurance, your gas, internet, etc.  

It's definitely much more challenging to have the house inspected with all of their stuff around, but they should be able to still look at the main things (foundation, HVAC, electrical panel, hotwater heater, roof, etc.). 

I would need to add plumbing for the kitchenette sink and electrical for appliances but I'm not sure if my breaker has enough room for another 240v for the stove. 

A cost segregation study is a great way to reduce your taxes, but remember, not every cost segregation study is the same.When considering different cost segregation firms do your Circular 230 Due Diligence and ask:- Does the firm have engineering licenses with the State Authorities, proper licenses overall, and proper insurance?

As in increased electricity bill anyone? 

Despite them all being deep blue tenant friendly cities, they are also the engines of wealth creation in this country and therefore over a long period (20+ years) are likely to outperform everything else.At the end of the day, you need to come up with an investment thesis you believe in.

The roof, HVAC, plumbing and electrical are done. 

We both have some home repair skills, but would likely need to hire out larger work such as electrical, plumbing, roofing, siding, etc.Thanks for the help!

I moved in with no heat, no water, and a very poor electrical situation but by this time i was working for my mentors construction company and had an abundance of resources at my disposal.