I am a bit concerned about water long term in AZ and NV. 

When you talk about 'higher interest rates', what range have you seen passing by?

The property has 2 electric meters and one water meter.

Hello All,I am looking to buy Rental property SFH (new build homes) , in range of 550k-660k 2200-2660 sft.I scotted Roseville, RanchoCordova and Elkgrove.Rancho-> Has many new builts and cheaper compared to other areas, at same time many rentals available . 

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

The other thing could be tracking what you have had come up on the last 5-10 projects after closing, i.e. the water heater was at the end of life when we bought the last 6 out of the last 10 properties.

She has somewhere in the range of $150,000 to $200,000 in free rent.

Currently I think 200k being the upper limit of investment makes the most sense and is within my risk tolerance range.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

The best defense against rats entering your property is to seal off all entry points (holes, cracks in walls), remove food sources (dirty dishes, food left in trash cans), and water sources (like leaks).