that way you can utilize a lower downpayment and potentially rent by the room?

The electric utility was shut off.

I am hopeful that MAREI and other entities will have clarification on how a landlord can and should utilize this ordinance.

This will also help you be organized when completing taxes and writing off any potential expenses like furniture, utilities, repairs etc. that come with the rental business. 

One strategy to rapidly increase door count would be to leverage an equity position utilizing a cash out second equity line or fixed second loan as a down payment for a new primary purchase of 2-4 units.

Here in Charleston, in order to apply for the legal residence tax assessment ratio, all owners have to provide copies of tax returns, utility bills, driver licenses, vehicle registration, voter registration, and the settlement statement/CD, along with an affidavit stating that all owners occupy the residence and do not claim legal residence anywhere else.

Tenant covers every other utility.4.

If they wrote it is required by code, ask if that is today's maintenance code for a home built in 97.There is almost always a shut off outside for every utility, but it may be in the street.

Some buyers do utilize second home financing options to secure their vacation property, which is nice because it allows the applicant to go up to 90% financing on a full documentation loan. 

Here are the numbers, so you can see what I mean.The numbers are the following: 359,900.00 sales price (purchased Dec 2015) 89,975.00 down payment (25%) 10,000.00 closing cost (estimate - I don’t remember the exact figure) 7,000.00 required rehab (estimate - I don’t remember the exact figure) 106,975.00 Cash invested 3,900.00 Rental Income (actual figures) 150.00 Parking Income (actual figures) 4,050.00 Total Inflows (400.00) Utilities (250.00) repair budget (not an actual outflow, yet) (2,200.00) Mortgage (Includes insurance, taxes, and P&I) 1,200.00 Operating Inflows 14,400.00 Yearly inflow 13.46% ROI If I were to use the 50% rule I would have discarded the property.