I do not know about your state but in California if you let someone stay in your place long enough for them to establish residence, receive their mail, or order services in their name like cable TV etc. then you have to give them a 30 day notice but not much else. 

But then also subtracting out these numbers (insurance, tax, HOA, other costs were all calculated by actually getting quotes for electricity, water/septic, internet, cable for this house). 

Along with paying all of the utilities, internet, cable, yard upkeep, and snow removal.  

He had to install some underground cable in a town a few hours away. 

If you buy a duplex or multi-bedroom house, you could eliminate some or all of your mortgage/rent if you have full occupancy, maybe even some or all of your utilities/cable/internet if you play it correctly.

Sure, if its just some paint, new flooring, maybe some low voltage lines for cable TV or a wireless AP that sounds fine.I know there are some areas of the country where town inspectors are a pain, but I usually here about that more so in major cities inspecting large commercial jobs.

They need a place with a kitchen, washer/dryer, cable/wifi, and a place to sleep and take a shower. 

No extra charging cords or HDMI cables.

@Kristin RikerHere is how I calculate for all my personal rentals and for my investor clients in Tampa based on one occupant in a 1/1 per month:Electricity: $70 (excluding air/heat/stove)Air conditioning: $65 (averaged over the year)Heat: $65 (averaged over the year)Internet and cable: $100 (depends on the services you choose)Water: $50Renters insurance: $13 (about $150 billed annually)I own a multifamily property in Tampa with my spouse and electrical meters are split but Tampa water is one meter.

Also, I know that $262-$362/mo. in net cash flow might not be a lot to many, especially west coast folks, but to help paint a picture of my current situation: My own monthly expenses are only $750/mo (PITI, utilities, phone/cable), so $262/mo. is almost 1/3 of my monthly living expenses.EDIT: I updated the numbers because I realized I was using old info.