I'd be surprised if the complex doesn't have individually metered units so you may be able to eliminate the utility expenses unless those are for common areas like walk ways, parking lot or laundry.

Hi everyone -I want to thank you for your thoughtful and insightful responses.

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.Good luck in your search.

I just wasn't sure if it is my responsibility to do something if the electric bill is high and are not satisfied. do I have to be concerned about that?

While I’m still in the early stages, I’m incredibly motivated to learn, grow, and surround myself with like-minded individuals who can help guide me along the way.What drew me to real estate is that I saw it as the best route for me and family to have financial freedom.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Thanks for the response, were open to other options as well.

@Russell Brazil: Thank you for the response Russell, very helpful thank you

Review your management agreement—it will outline all fees and responsibilities.

Your returns could be increased if you are willing to rent it by the room to individual students.