I would think besides the bureaucracy of splitting, the most effort in this scenario is maybe utilities require splitting.  

One efficient way to manage expenses for multiple properties and entities is to utilize accounting software that allows you to track expenses by property or entity.

I would also work with a lender that can get the job done quickly as it is common in this space for lenders to take forever to close. 

This consistency shows a balanced market where buyers and sellers are finding common ground.Median Time to Contract: Homes are taking a bit longer to sell, with a median of 28 days to contract compared to 27 days last year—a small 3.7% increase.Median Time to Sales: The total median time to sales decreased by 2.8%, from 71 days to 69 days.

The most common exemption is the exemption for private offerings.  

MichaelAre you referring to all utilities on one meter?

I think you can definitely make a great team, especially since both of you have the potential to utilize your VA loans. 

The most common issue is a leak under the sink or dishwasher.   

It's quite common for lenders to use raw land as collateral for new construction loans, especially if the land is owned free and clear (which a lot is).

Some common items to note: roof, electrical and plumbing, window updates.