In Chicago you request a CHA Burden sheet and that gross number minus utility allowance will be what you get in addition to making sure bedroom size is adequate.  

Typically, if you have a mortgage, the mortgage company will collect taxes and insurance when you pay,  so there is not really any budgeting required for this.

Quote from @Godsheritage Adeoye: Hello, I’d like to know how investors typically handle Subject To contracts.

@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Issues 1) even garage conversion ADUs in single family zoned areas typically cost more to build than the value that they add.  

the profit is far less than I typically achieve but this is an awesome cabin (it was owned by a country music star in the past). 

You typically want to include those utilities because if unpaid they become liens against your property.

To estimate expenses, consider setting aside a percentage for management fees, plus costs for cleaning and utilities.

Since this approach relies primarily on true documentation rather than estimates, it is typically the most accurate.