Emotional ties don’t want it sold but beside that there’s much potential 5bd 4.5bth that needs much work (roof, plumbing) It’s definitely a project.Or leave that dream and agree to sell and use the $$$ to enter the game another way.

Shared utilities or metered separately? 

It comes with 3 water heaters, 3 separate electric panels, however landlord pays for heat since there is only 1 furnace.

This is all a big numbers game, do not let emotions get in the way of anything. 

You probably want to make the lease and option two completely separate documents. 

Because this property has 3 separate basements, we need 3 separate systems that will cost us about $10k total.

More info on my separate post here: https://www.biggerpockets.com/...

If you use tags you can separate each property. 

However,  I believe stocks are more volatile and your emotions in a downturn may make this investment in stock  a big negative.  

@Matt Small If you are indeed separating amicably you can hire one lawyer/cpa to arbitrate or help you see the pros and cons of your choices.