How utilities were split.

He owns a house that has a "tenant" -- however, this tenant has NOT paid rent or utilities in 18 years (don't ask -- I don't know why my uncle allowed this to go on). 

When analyzing a potential deal, I've been factoring in the following:leasing fee (1/12th rent per month) PM Fee + 7.5% CapEx 7.5% Repairs Principle + Interest Taxes/monthInsurance/mo Vacancy (10%)... going with the thought that tenants in single family rentals will be responsible for mowing the lawn and all utilities written into PM contract.

Utilities are separate and I would have the tenant pay them.

If you're willing to extend your reach to Phoenix or Atlanta, let me know.I don't work in NY, but I'd look at attending local REI meetups and of course utilizing BiggerPockets.

(Not trying to avoid taxes or anything similar)It seems that utilizing a LLC, established in New Mexico/Wyoming for example, may be the best way to achieve this, as a holding company. 

A great book that breaks down complicated financial strategies that you can utilize in your own business.

Insurance, utilities, CapEx, Maintenance, Vacancy, Property Management to name the most common items.3.  

Like I said I feel pretty comfortable with the deal right now just want some input from others that have gone through the process.Obviously I would utilize an attorney who specializes in Business Brokerages to facilitate the transfer, as I want to ensure it is done properly.

I need to try to find out what vacancy in the area is.The numbers seem mostly good, till you get to the utilities and taxes.