Here’s what I do with my rentals:I either have tenants split the utility bills or include a clause in the lease that states if the gas or water bill exceeds a specific amount ($X), the tenant will be responsible for the overage, provided there are no leaks or other infrastructure issues contributing to the high usage.To determine this $X amount:Water: I take the highest water bill I’ve had over the past year (excluding periods where leaks occurred) and add about $15 to account for small fluctuations or potential increases.Gas: For gas, I calculate the median bill during the winter (when usage is highest) and the median bill in the summer (when usage is typically lowest).

How do I get the calculator to calculate interest for both the purchase price and the rehab.

You may also want to use one of the BP Calculators and post the results and ask for feedback.

Also, I payed my mom’s mortgage on her primary which I can rent here in San Diego which would help with the mortgage but I rather not use that in the calculations to avoid over leveraging myself.

I appreciate the feed back from everyone, as financing can get a bit tricky, not to mention complicated sometimes trying to look at all the different ways to calculate how financing can or cannot me more beneficial than your current situation.  

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Renovation costs are capitalized and added to the property’s basis, reducing taxable profit (sale price minus adjusted basis and selling expenses).

Just run numbers in a BP calculator.

Any suggestions on how you calculate the wholesale fees would be appreciated.

Now that the value has increased $500k, any additional increase will be taxable income when I do sell.