Here’s what I do with my rentals:I either have tenants split the utility bills or include a clause in the lease that states if the gas or water bill exceeds a specific amount ($X), the tenant will be responsible for the overage, provided there are no leaks or other infrastructure issues contributing to the high usage.To determine this $X amount:Water: I take the highest water bill I’ve had over the past year (excluding periods where leaks occurred) and add about $15 to account for small fluctuations or potential increases.Gas: For gas, I calculate the median bill during the winter (when usage is highest) and the median bill in the summer (when usage is typically lowest).

Background:We have secured a building on a small college campus in Cleveland that currently does not offer student housing to its students on campus.

Adding small single unit is expensive development.  

I am looking into a deal and would like some advice and have people pick at it and let me know what I am missing in this proposed deal.I am a small real estate investor so far, I have 4 SFH rentals, 2 in Colorado where I live, and 2 in Texas.

We have a great cleaner who we also pay for small runs and other miscellaneous things.

@Seth Rose real estate is a small world.

I work with a small regional bank that maybe has 20 branch locations across 2 states.

If you have room and your place isn't small get seperate machines. 

Also, if anyone has a legal advisor in Virginia that is interested in working with a small investor (this will be our 2nd investment property), please pass their name and info along.

There are going to be some very small pockets you'd probably want to avoid, but even those aren't that bad compared to other cities' bad areas.