Hey BP!Here is the quick and dirty. A partner and I are closing on 5 single family properties in Shawnee, OK at the end of the week. Two of the homes are on one lot, and the water is NOT metered seperately. Also, the ...

-@Dylan B. you have to get a permit from the city first to add another meter and then work with the utility. 

Factor in any debt on the property, utilities, furnishings, etc.

I was thinking of utilizing an FHA loan to occupy the legal attic and rent out the first two floors.

That makes them whole, gives them a good lawn and keeps them accountable for their water and other utility usage.  

The reason is that you will likely pay a marginal more for property taxes after you renovate, marginal insurance premium increase, tiny bit more utilities, and that's about it.

Does the monthly rental fee generally include utilities, internet and cable or do the tenants pay for that independent of the rent?

For me, I see an increase of 25-30% on a $/sf basis when going past 2 units.It hope it goes without saying that building multifamily 2+ is always going to be more $/sf due to the separate utilities, extra kitchens, etc.

ARV = 235KAs is value = 225KRehab needed < 10K (mostly yardwork)Seller's motivation:Seller is 90 years oldFell ill over a year agoMoved into senior care facility, but kept utilities on thinking she'd eventually move back.

This is the further expanded category of Fixed Cost that I was referring to:Purchase Cost- Inspection Costs- Closing Costs- Lender FeesHolding Cost- Mortgage Payments- Property Taxes- Utilities- InsuranceSelling Cost- Commissions- Closing Cost- Home warranty- Termite Letter- MLS Fees