They claim it is a triplex (two regular units and an "efficiency unit".

@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. 

For example, the iconic Malibu waterfront homes were built directly over the water, many by variance, and assumedly will not be permitted to reconstruct, certainly not with the same materials or attached architecture.

Several factors indicate the company is not that concerned about efficiency or ease of customer process: the website, a process that seemed to focus on one issue at a time instead of all issues at once, and consistently poor communications and lack of common sense from the loan analyst we were assigned.It started off very well with the initial point of contact, Austin Lornson, who did a fine job of explaining the general refinancing process, responding quickly and thoroughly to our questions.

Specifically, I’d love to hear about best practices for managing shared spaces, screening tenants, and setting up house rules.Additionally, I plan to split the utilities among the tenants—any advice on how to handle this efficiently would be greatly appreciated!

That's easy compared to trying to fight and erroneous $13k water bill (a real issue we had) or an insurance policy tripling (that too).

With that in mind, you'd also have to make sure the land you'd buy has water and electric running to it already.

In my experience, a successful BRRRR typically comes down to two main things: finding a good deal and managing an efficient renovation.

Need to watch out for utilities like water meter, electrical, gas, and sewer.

That actually is a benefit, as no one is expected to water the yard.