We'd use the appraisers opinion of market rent to calculate DSCR and just want to see at least a 1.0 (Rent divided by PITI). 

It might be best to divide your cash from the sale into a down payment for a new primary residence and a down payment for a cash-flowing property in the area. 

How do I go about dividing up water charge?

They NEVER EVER cut the grass so the weeds are all over my backyard chain-link fence that divides our properties. 

@Jarrod OchsenbeinYou have to divide the expenses using rental square feet vs. personal square feet or rental bedrooms vs. personal bedrooms. 

At closing the taxes will be calculated per day and then divided by days remaining in the year at closing.

If that is the case, then it should be a simple matter of taking the total, subtracting the amount from the submeter and then dividing the bill appropriately with them splitting and fees unrelated to the usage 50:50.

There is a solution though because there is Non/QM which offers a few programs like (1) year 1099, Bank Statement, and DSCR programs. 1 year 1099 is self-explanatory, Bank statement uses 12 or 24 months bank statements gross deposits and divides that income usually 75% over 12 or 24 months, and DSCR requires No income or job, it uses the rents of the property as income as long as the rent(s) are equal to or greater than the proposed PITI payment.None of the above Non/QM offer construction loans though so you will need to stay W2 or wait 2 years.

Outlined the total amount owed and the months allowed to pay it back in, then divided it by that # of months and tacked it onto their rent.

If it costs you $5K in turnover (renovate, vacancy, etc.) and divide by the difference, see if it makes sense to you.