I was an electrician for over 20 years with my last electrical job being shop foreman for a custom electrical control panel shop and UL 508 specialist.

The tenants pay all utilities including sewer and garbage. 

I don't know what the issue is/was, but I think a lot of customers want to play games and he probably did his best to keep them on the straight and narrow. 

This allows them to get more capital so they can make more loans without having to grow their asset base, while also maintaining their relationship with the customer through monthly payments.

We have a few parks and we utilize both options.

@Shelby Ek Do you need to activate the utilities in order to qualify for the loan you are getting?

And have you thought about building back utilities?

If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

I recently used it to generate custom images for my STR coaching Powerpoint material.