Another method mentioned above is the RUBS system for allocating utilities, which has the same basic result.I can say from experience that very sophisticated, very professional teams are building institutional-grade apartment buildings with 100+ units in Seattle that do not have individual meters for all utilities.

One other thing: We were three days late with last months rent because my wife's company was bought and her payroll frequency changed.

Jordan Low I would do the master in a more sophisticated design compared to other bathrooms.

Depending on how sophisticated an accountant you are, or have, you can also do depreciation on assets in the property. 

As Chris has mentioned many times this is not sophisticated investing.. this is simply buying a SFR and renting it out...

However, the investor has to reach a level of scale and sophistication that most can't achieve and then economically a standard PM makes more sense.

She works in payroll, so she knew how much she could change them without flagging the IRS.  

The few times a late payment happened my tenant did give me a heads up but also supported her reason with documentation (new payroll system changeover caused delay, for example) It sounds as if these late pays happen frequently and started at the beginning of the tenancy, right?

Customers have no clue , how much it costs to keep the doors open , purchace trucks and all the equipment to outfit the truck , hire employees , do payroll . office staff . 

HUD and the local housing authorities are very experienced and sophisticated investigators, and will often "set up" a landlord by sending in 4 or 5 testers at a time.