I think you are in a really good situation if you can find a way to make it work, given that low interest rate and what people in this thread are saying is a hot market. 

If it's a hot lead we try to call every month LOL because in my market a seller can say one thing and than sell the next day.

From my perspective I would definitely separate the utilities for heat and hot water whether that is gas or electric.

Some areas here may have rent by the room ordinances for non-family so you would want to check, but single-family homes in the same areas should be selling as hot or hotter than multi-family.

Over 10 years you’re much better off in good appreciating neighborhoods in hot markets.

Limit an initial conversation or questionnaire to no more than 3 to 5 questions:What is total household gross income?

Code for your area may include plumbing, electrical, bedroom windows (proper height, width and clearance for egress), some areas require sheet rock around the heater and hot water heater. 

I know your maintenance costs and CapEx will likely be less with a new build property but you should be prepared just in case you have a hot water heater go out or something else unexpected go wrong.

Sounds pretty big hot shot right? 

I asked her if she had run out of hot water and she said no.