arbitrage is not a short cut to owning property.

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

Electric: is the easiest to split, but may require holes cut in walls to separate the units.Gas: gas lines aren't as flexible as wires, but it can usually be done affordably.Water: most cities will NOT install additional water meters on a property.

Two of the kitchen cabinets were also cut in half.

As mentioned take a smaller cut to complete a deal if necessary.

There is always SOME manual work, but you can cut out a lot of the back and forth-- definitley.

You’re going to have to buy at least $1M (or whatever you clear after selling costs.), worth of replacement properties, not $500k.

It was a huge investment, but it cut the electricity cost by the full 2K per/mo all summer.

There are tons of threads here on BiggerPockets where you have a new investor bashing a property manager, seller or turnkey guy and then when the experienced investors chime in it becomes very clear that the new investor wasn't telling the whole story and there typically wasn't any wrongdoing by the property manager, seller, turnkey guy or what have you.

It has to be sold prior to dissolving the company to clear the debt against it and free up cash.