Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.

Do you manage your property yourself?

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

I'd recommend working with a good strong property manager that lives in that area that can check on them.

Hey Adam,I’ve been in the Tampa real estate game for 20 years as an investor and owner of a property management company.

I have been in property management for 20 years, almost 3 years ago I moved to Birmingham AL to start my investment journey.

Divide the long-term vision into manageable steps.

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.

The utility company doesn't manage your property...they provide paid services until they're not paid anymore. 

Talk to property managers and see if they would manage the other units.