Given I have properties in other towns close by that are metered and have a lot of units rented by one person, I know I'm paying roughly double for water and sewer at this property compared to if it was metered.I have gone to multiple City Council meetings over the past year and they keep on slow-walking me on this issue. 

At our recent local rental association meeting the presenter was the director of "Council for the Homeless: Preventing and ending homelessness in Clark County."

So I figured that I would post my findings up in hopes that the Biggerpockets council could provide me some prospective.TOTAL LOAN AMOUNT $30 K (FROM A FAMILY MEMBER)PROPERTY INFO:Current value: $41,500Vacancy rate: 10%Renovation: $8,000Property tax: $950 (YEARLY)Insurance: $1,000(estimate) (YEARLY)Rent per unit: $650-$725 (MONTHLY)Purchase price: $27,000 (cash purchase LOAN FROM FAMILY MEMEBER)NOI = $12,600Income - Expenses = $15,600 - $3000 yearlyCASH FLOW = $6,600Noi - Debt = $12,600 - $6,000$275 per doorOne thing that has been troubling me is how to take this research and figure out the cap rate.

@John Turner You are getting good council.

According to the county's TDR program manager, there is no work in the Planning department budget to get this bill back before the council before 2017. 

- I am in Victoria, British Columbia, Saanich East (exploring Nanaimo, North End)- Rental vacancy <1% - Highly competitive.- Average rents for a 5 bedroom 3 bath house with suite - $2800-$3200- Multi-family duplex/Tri/Quad between $1500-$1800 per unit.- Average cost for a home present day $700,000.00 (compared to a roughly $560,000.00 average in January 2015)I am very interested in hearing what you guys have to say!

Flagstaff city council is working on increasing its backup supply of water (funding for a new generator). 

I encourage you to seek council with your attorney and/or tax accountant in order to fully understand how owner financing would affect your specific situation, and if it is right for you.

Is that enough precedent to get a property through the Metro Council and reclassified back to R6?

This is a giant hurdle regardless of what is legally possible, as you will be in a much better position if your city council "like" the idea.