HOW TO SHARE UTILITIES 101You have a property with two or more units and the utility meters are shared.

Utilize tools like BiggerPockets for resources and calculators, and consider creating a simple spreadsheet to track property details, budgets, and timelines.

So all in all, the investment seems solid to me, and this is not my first rodeo, as they say.As for the risks associated with the SBLOC, I minimize those by only utilizing a portion of the LOC so that even if the market drops another, lets say 30%, the risk of margin call is slim.

In Chicago you request a CHA Burden sheet and that gross number minus utility allowance will be what you get in addition to making sure bedroom size is adequate.  

I’m looking to connect with experienced spec builders who have utilized hard money lenders, private money, or even grants to fund their projects.

@Alecia Loveless is correct--tenants need access 24/7 to their electric service panel, water and heat, assuming those are individual utilities for each unit. 

Utilizing my relationship with a great local lender I started the process of getting a secured line of credit set up against the 3 unit so I could pull most of my money back out.

I can only speak regarding structuring the deal as I have not utilized partners personally but it really can be anything that you want.

I’ve heard that this neighborhood doesn’t really have any problems from a social worker but outside areas aren’t good. 3/4 units are currently rented at $900 each, renters pay utilities.

I know I need to get a credit card and keep my utilization ratio low, but I wouldn't know much about the process of actually receiving a conventional loan from a bank or any type of loan.