Separately metered with tenants paying all utilities.

@Gavin WynnI would get the gas sub-metered so you can bill the tenant based on usage.

Under this idea, you'd need to see if the Health dept has any restrictions for your septic system (which i assume you have) and if the power company would meter the 2nd unit separately. 

If the property has multiple meters they're most likely going to see it as an investment property and I think you're going to  be hard pressed to find one doing 5% down.

Does it have separate meters?

Given this is where my major operating expenses fell (beyond taxes and insurance), keeping this cost lower, by average, helps my cash flow.I invest in older neighborhoods, so the 2-4 unit properties, typically have single water meter, maybe single electric, and many have radiator heat with a single boiler.  

Typically you end up putting in a new meter socket, new panels and the new service. 

The one percent and 2 percent rule ive never looked at ... cap rate is .. meh .. its there - what im most concerned with is the price of the home relative to comparables and cash on cash to start.   9)  I look  the other way if it is a multi unit that is not separately metered - thats always one of my criteria here in pgh as there are a lot of older homes and a good portion you wind up worrying about who will cover utilities.  

Total monthly revenue 5700/month for all units rented as LTRs. 25% percentile rent on Rent-o-meter.

Waived Fees: For vacant lots that previously had homes, water meter and sewer tap impact fees are waived.