I also like one with a separate guest network so I can keep my smart home devices segregated.

Expensesget taxes from county. look at current valuation and you should have a good guess at how much it will go up based on purchase price.Find out what expenses are paid by LLVerify which utilities are separately metered; get average winter/summer monthly costs from utility company for any 'house' accountsGet quote per door from your insurance agentGet a quote from your landscaper (find out what they pay)Get a dumpster quote if you don't have city trash binsFind out if there is a parking lot sewer feeFind out rental registration requirements and costs (can be both county and muni)Income:Get the rent roll, In the contract require that you get estoppels signed by tenants and current owner saying amount of current rent, security deposit held, past due balances, and spelling out any promises for additional work/upgrades (there shouldn't be any). 

There is nothing wrong with continuing the collect the fee and holding it in a separate account while the tenants decides what they want to do.

If that does not work for you we can get together separately and then see what we can schedule.Just let me know.Phil 

Sometimes you can tell by noticing little gaps or separations at stairs, baseboard trim, door framing etc

I don't think that the owner has separate bank accounts for the tenant.

Preferably, units would have separate meters for utilities to be paid by each tenant. 

I think it might be because long term leases are separately assessed and have to pay ad valorem taxes, but easements do not, in Alabama.

Purchase price: $44,000 Cash invested: $50,000 Converting a 4/2 into a duplex (2/1 each side)Medium rehab, most challenging aspect is separating the utilities, should rent $750-800 per side.

This would allow us to continue saving money (more than if we bought separately) and get into this market while our home hopefully appreciates with inflation.