There is one decent size master bedroom and one tiny 10 x 10 room that looks more like an office.

@Alfred Edmonds The second bathroom is actually original; we left largely as is to focus on the master and save on rehab costs (only repainted, reglazed tub, and replaced floor and toilet).As far as light fixtures - what would you recommend instead for reasonable ROI on a not-that-great area?

If you can't find one then call me and we can add the property to our master policy. 

I'd focus my time and money on mastering a process that I control. 

I posted about this experience recently: https://www.biggerpockets.com/blogs/8160/71180-we-...With a master metered property, you have a few options: (1) you become responsible for the water bill and include a flat fee in the rent (2) sub-meter the property so each unit is on their own meter, making the tenant responsible (typically VERY expensive) or (3) implement Ratio Utility Billing System (RUBS), this is where you are still responsible fo the water bill but through a formula and spreadsheet bill back the tenants their fair share.

The house as is has a big kitchen, indoor laundry room, 2 full bathrooms one smaller bedroom and a nice master with WIC.  

I live in Washington State and am looking into doing a master lease with a healthcare agency in my area- essentially I'm buying a house and renting it out to the agency.

Hello BP, looking for thoughts on structuring a master lease...here is the situationHave a potential on 16 unit multi  --  this multi needs some significant work (although mostly cosmetic, looks like a dumb but it is actually a hidden gem). 

My formal education did very little besides take up my time, and I say this as someone with a Masters degree.

It is brand new and in a highly desirable area in my city.  3 Master Bedrooms/3.5 baths 1900 square feet.