I'm paying for what I'm getting right nowThat being said - I could pay slightly more for something where I know, or have a very good idea something is going to happen - such as road access, utility access, new developments of some sort etc Or less (probably wouldn't buy) if something bad is going to happen - railroad tracks, dump, Sec 8 housing built near by etc 

- Usually a 5 unit with a boiler means that all the units share the boiler heating system.Which specific utilities in which units are paid by tenants vs shared?

I'm assuming you are arriving at your cash flow number by applying Gross income - cap ex, maintenance, utilities, vacancy, tax, insurance, mgt, landscape/snow & Debt service?

The bottom line is that there is a very small positive financial gain resulting from utilizing this method.  

I'd be surprised if the complex doesn't have individually metered units so you may be able to eliminate the utility expenses unless those are for common areas like walk ways, parking lot or laundry.

Then utilize the same designs.

. $1300/month, tenant pays all utilities. 4 bedroom one is vacant.

And you can be a landlord that gets a very poor return because they haven't utilized their space well by changing the layout.

In my case, I had small bedrooms in a small house and took out the small closets to each of the bedrooms because I needed that space to create a larger bathroom, utility room, and create a hall closet that before did not exist, leaving both bedrooms without a traditional "closet".

If you are using STR, REPS, or self rental with material participation to convert to active or nonpassive income, you do not have to do this if you have passive business invesment that produce passive income that will exceed the loss generated by depreciation.