Look for properties with features like separate utilities and layouts that appeal to tenants.

That means if you could get $6,250/mo, have zero repairs, zero maintenance, zero capex, zero vacancy, provide zero lawn/snow/landscaping, pay zero utilities, and pay zero management.

Starting with an FHA loan on a property with separate utilities is a great way to begin.

Quote from @Zachary Deal: A lot of investors utilize the BRRRR strategy in those markets as there is relatively high rents compared to the value of the properties!  

At the current price, adding the additional lots would make them about $30,000 per lot, depending on the price of the additional utilities that need to be added. 

Not including land or utilities.  

Neither outcome is good for you.I give some approximations of each expense category in The Hands-Off Investor, but the best way to nail down operating costs is to look at the property's historical performance.For example, Contract Services and Utilities. 

If you can live for free and only pay utilities AND buy an investment property, that would be ideal in terms of savings and cash flow.If you can't stay and your parents want to make some money on that property, then yes, house hacking would be your best option especially since you don't want the best place in the multi.

There is always a "rain delay" or "the foremans truck didn't start" or "We called in the stake out, but they didn't do it yet" (Sorry they are big on stake outs and I have never had the towns/utilities be off when requested on time).

Separately metered with tenants paying all utilities.