Separately metered for electric/gas/heat.Unit 1:3bed/2bathUnit 2:4bed/2bathChicagoans (or those familiar with the area), would you agree that this seems to be a good candidate for a flip?

Electricity varies, still trying to get that estimate out of him..

For example, the windows are very drafty and there is no insulation, the electric should be redone, the flooring needs to be addressed, etc.

I have 2 quotes in to replace the roof (asphalt) and hope to have the work complete in ~ 1.5 month.3. 4 of the 5 units have 60 amp electric service.

If you have the time and energy to put in, you can find deals in your area although price points will be significantly higher (Obviously).

The one thing I don't want to do is re wire the buildings electrical. 

Make sure he has access to common area where electric panel is so if he has issue he can reset breaker.. or any other utility shut offs.. hitting a water pipe or blowing a breaker isn't planned but a quick reset or shut off is easy if you can get to the area. 

I was thinking if I could convert to a sub-meter system, and have the tenant pay the utilities(Water, Gas, Electric), it could give me the desired cash flow number I am searching for.I'm not familiar very much with converting to a sub-metering system.

For people that want to be more hands on, have the time and energy to deal hunt, rehab, or self-manage, this might not be a worthwhile tradeoff.

Non MLS-Looking for a quick close.All brick construction, 38' lot, 3 car new garage, new deck, full basement, wine cellar, new windows, new doors, fresh tuckpointing, plumbing, electrical, cameras, low voltage controls and speakers.