All units have separate meters -- Tenants pay water, electric, ect. 

I like this because of the water park for kids.

If you attempted doing that as a real estate licensee, that would be an ethics violation that could put you in hot water and wind up costing you hundreds to thousands of dollars in fines. 

2 water meters ?  

Along with the standard work I do on projects, these units included replacing all galvanized water lines to copper, upgrading the electrical infrastructure and installing instant water heaters.I hope that this helps!

Here is a blog where I wrote about a recent 42 unit we bought and did creative things to add value. https://www.biggerpockets.com/renewsblog/bought-multi-million-dollar-apartment-complex-age-26/Just a few ways to produce ancillary income:- Laundry Coin laundryDetergent/laundry essentials in a vending machine in the common area laundry rooms.Rent individual W/D to each unit-Parking Garage parkingCovered parkingprime spot parkingJust plain old charge for parking-Renovations Interior units upgradesCommon area renovationExterior upgrades for curb appeal-Vending machines In common areas such as exercise room, pool house, laundry or leasing office-Trash pick up service In high-end buildings they have a service where you can set trash outside your door and for a fee maintenance will go around each night and collect it so the resident doesn't have to carry it to the dumpster.

I buy for location, and there are a few things that usually make me walk away - late last year I looked at something I was considering buying but there appeared to be a massive sinkhole developing at the driveway that was taking the slab with it - and usually those things are serious foundation problems, unsolvable/difficult to solve water issues, failing roof support system, no siding or severely damaged siding.

Ads on craigslist to test the waters/appetite. 

First, i would not furnish the places, it will probably get trashed, let them get there own furnishings and make sure that the lease says they must remove them from the property when they leave. i would have them pay for utilities, to an extent - have them pay for electric, supply the heat but give them an allowance for certain amount of months ( especially if you have older furnaces and they run on oil heat ) if they go over then you charge them for it. i converted mine to gas with new furnaces, i include heat in mine, but i control the thermostat ( online, thermostat is locked at the house ). i also provide water / sewer and free internet.

You're not going to cashflow on a water front property and you may have issues with seasonality and/or demand in a very tourist-driven area.If you have an idea of where you'd like to invest and what the numbers might look like, a good way to test the waters is to put an ad on craigslist showing a potential property with the rent you'd expect to get and see what kind of interest it gets.For my rentals in Louisville, over the past 6 years I've had anywhere from 2-3 emails a week to 30+ emails per day depending on the location, rental rate and time of year.