The insurance company will send you copy of the tenant declaration page proving coverage, and they will notify you if the tenant ever cancels the policy or allows it to lapse.HOW TO SHARE UTILITIES 101You have a property with two or more units and the utility meters are shared.

Thank you very much for sharing this information.

Quote from @Mike FitzPatrick: Just wondering if anyone can share experiences with Life Bridge Capital. 

I intend to rent out the units by room to college students (does it sound like this would work in this area and what are some general tips/things I should look out for?).

- Usually a 5 unit with a boiler means that all the units share the boiler heating system.Which specific utilities in which units are paid by tenants vs shared?

You can also throw up some sound-dampening panels on the shared wall.

I'd use an approved underlayment.Pro Tip: If it's cheap, it's not good.....at least spend in the moderate range.

Investors like me are left sifting through overpriced junk instead of finding real opportunities.Pro Tip: The average wholesale contract is for a 30 day "inspection", while the wholesaler looks for a buyer.

Any tips and tricks and knowledge will be much appreciated.

Are you going to live there also, or do you want to operate a shared housing model in a single-family home with tenants?