In Chicago you request a CHA Burden sheet and that gross number minus utility allowance will be what you get in addition to making sure bedroom size is adequate.  

I got into RE investing utilizing the same strategy as you're exploring.

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.

@Will Almand this sounds like a very useful case for cost segregation especially if you can utilize the depreciation expenses against your income.

Out of that voucher amount, they will have a utility and appliance work sheet that provides a cost for each utility or appliance not provided by a landlord for each bedroom size.

I would like to utilize my Stessa Pro Perk but I don't want have to create a new account.

Many Airbnb guests will want common utilities unless it is in a remote are where you go as a sot to sleep while hiking the area. 

Utilizing the preREO strategy, a receiver (i.e. a local real estate agent or property manager who you may already have a relationship with) could be appointed to make repairs and rent out the home during the foreclosure process.

It's been great - the property is 100% paid off and the house is worth 300-340k generating approx $2300/mo (that's after utilities/management fees etc.)I'm considering selling the property to buy 3 more within the same price range in the same market. 

@Trevor McCormick to piggyback off what others have said, determine if you are trying to maximize it as an investment or utilize it as a vacation home you will STR to help cover expenses, as this could dictate which type of property you are looking for.