I'm a 100% committed student of the real estate industry.

Just my take away so far.  

Even if it is for just 2 years.

There just aren't as many deals as there used to be it seems. 

I'm just south of the twin cities, but I'd think Fairbault or Owatanna might be a good place to meet since there centally located between Rochester, Mankato and Albert Lea.

Would you follow me in to your master bathroom?

It works just fine if the operator knows what theyre doing and structures it correctly.

My suggestion would be to cap your utilities at a certain amount and have Tenants pay anything over that amount.That will help you manage your expenses, and also allow Tenants to gage their usage each month, and make adjustments if they don't want to go over the allotted amount.As far as collection, provide the bill showing any overages and just have them pay for it along with their rent. 

Just a heads up this will not be tax free, it will be a pro-rated exclusion.

I just got an update from my client that the CPA approved what we did.