We lucked out a few years ago when ours burst but it was 3 years past it service life & was a utility company rental.

The common areas have electricity for lighting and hot water heat and there are two coin laundries so the owner utilities consist of common area electric for lighting, gas and water for the common area heat and hot and cold water for the coin laundry. 

I was able to utilize that money to make more money.

Do we have to have utilities in our name, receiving mail, or is someone going to show up in 60 days and make certain that I have underwear in my dresser drawer?

I'm hoping to utilize the tools and the people on this forum to hopefully create a long lasting and beneficial real estate empire!

My thoughts are moving forward that we could sell that condo for a decent profit potentially and then purchase a distressed single family, utilizing my brother as an owner occupant.

Thanks for the welcome, I am definitely utilizing the tools available on BP.

My model does include an annual maintenance amount and a big ticket amount (capex  ie roof) and finally some utilities (I like to pay the water bill and lawn maintenance so the exterior always looks decent).  

I am excited to be even closer to the industry as I am now currently looking for my first investment.My plan is to "house hack" a small multi family by utilizing FHA and 203k loans.

Think of five major benefits of an LLC1. added privacy (especially in NV and WY)2. added asset potection 3. additional tax advantages 4. additional credit building possibilities utilizing your EIN# (no drag on your income to debt ratio).