If you can't submeter, then I would suggest structuring the lease in such a way as to include utilities based on current consumption and allow for increases if utilities dramatically increase.  

The have had changed dramatically over the past 20 years.I have never found banks to play games as long as you are organized and qualified.

What I mean by that is if something goes south and you have to hold the property for twice as long as you planned for or one of your rehab/holding costs goes up dramatically, and you can still make money, it's probably going to be a good deal. 

Next buy will be a 4-5 bedroom with space for a game rooms because the returns scale up dramatically. 

i just closed last week on a deal funded through a BP member as a matter of fact...this was my 3rd deal funded through this lender...i've also learned a ton of info that i never would've known elsewhere...post tax credit, i was having trouble selling a rehab, and i was thinking about lowering the price as the number of buyers had dwindled dramatically in a certain area...thanks to BP and some of the insights from its members, i learned how to sell it on a contract for deed for full price...since then, i've sold another property on a contract for deed...the note created on this 2nd deal is currently under contract and scheduled to be sold to a BP member (yet another BP member sharing their money with me!)....

The average person has one breast and one testicle" Easy access to credit in the past 40 years has changed the landscape dramatic.

The market here is ridiculous right now compared to one year ago - cost per square foot is dramatically up. 

I can not give one account of what real value has been added to the area to account for the dramatic price increase.

Curious thing is, if you started 13 years ago that would make it 2008 when everything crashed for a few years.How'd you manage to survive such a dramatic down turn from 2008 to 2012 when banks weren't lending and everybody else claims they were losing their shirts?

I lived on Folly until Hugo destroyed the house I was in and it changed dramatically after that.