In my market, STR with pm, utilities, and furnishing costs is about on par with LTR without PM.  

-Those utilities will be connected to the main residence unless you get new separate meters permitted and added.

A different/maybe possible way to go about it, is to find a plot with utilities on the outskirts of your town (may not be possible, I have no bearing on your local market), then buy a mini home.

House hacking will build skills and equity while staying at home would (ideally) save more money (utilities, food, consumables).

Eventually, I'd like to utilize a 1031 exchange to trade up into larger multifamily units.Thanks in advance for your insights!

The problem is that there constantly seems to be fees being charged to me an example of this is in the contract  there is an additional 100 dollars allocated to sewer and water that the tenant automatically pays every month with rent and anything outside of it should be billed to the customer (there is no specificed time when this will occur on the contract) but it appears to be billed to me and after speaking to IIP it's like they made up rule on the spot stating that after 6 months all of the additional utility fees would be billed to the customer and in the meantime I am being charged for it.

Will need to deal with Land use, utilities, trees removal/mitigations.

The tenant owes 3 months of rent, unpaid utilities, and trashed my 2022 built condo and left several days before the sheriff had to break into the condo as no keys or forwarding address was left by the tenant. 

I utilized 7% for CAPEXand 7 % for maintenance given recent updates .Tenant pay for electricity and gas.

Once you stabilize the property with a tenant, you may explore a cash-out refinance to utilize the increased home value for additional renovations.