After you learn the business you should take the wholesale deals when they come - but wholesaling is a very simple concept that can get very complicated real quick (complications are notorious for killing deals). 

I know this is complicated.

This is a tip that keeps coming up in all of my reading, you need to run your REI company like the business that it is and making clients out of family and friends can heavily complicate that goal. 

That could mean you just market the home as including electric service, and then bump up the rent to cover it.But doing this does complicate matters some, especially if the tenant's usage gets so high that you're no longer making money.

The good news is that if you converted a 4-unit rental to a primary (1 unit) in order to get the Sec 121 exemption, you could use a 1031 exchange for the other three units.Live-in multis get complicated when it comes to this stuff, so I would definitely recommend you speak to a prop before you pull any triggers on this strategy. 

Of course, exchanging into multiple properties with high values can get complicated timing-wise, so I'd talk to a good QI about your plans first to make sure you have all your ducks in a row.

It's not really that complicated to buy out of state.

It is not complicated and can be summed up in a page or two, I'm sure it has been discussed hundreds of times on BP

.- Re-zoning: this appears to be very complicated in these parts, so not sure how easy it will be to split your double lot and sell the other half.- Insurance: I don't know if this was only me or others have experienced this as well, but it was exceedingly hard to find reasonably priced insurance. 

The answer to your question is going to be complicated but you're going to be protected with your "Third Party Financing Addendum" in your contract at a minimum.