Commercial loans do not report to credit bureaus so it wouldn't affect your credit utilization nearly as much as buying the property with a straight HELOC. 

I just wanted to add also that many syndications purposly utilize cost segregation to generate losses- but lot's of people can not deduct those losses in year incurred due to passive loss limits. 

This might also make it easier to justify separate meters or “utility chargebacks” if the rents get too out of wack. 

If only half the rent is paid, they are still 100% responsible for being late and subject to fees or eviction.Personally, I wouldn't want a married couple renting a room because that will result in an increase of utility use, wear-and-tear, etc.

The only other change will be repairs/utilities and they will be affected by inflation.

Side Question:I don't want to complicate my primary question with any more variables, but as a secondary, ceteris paribus question.... if the owner lives part time in the STR how does one write off expenses not directly related to STR operation, such as insurance and utilities? 

They have better collateral and you are able to utilize your funds for renovations instead of the down payment.

Should I reduce the offer price and not collect monthly rent but ask that they pay utilities and other stuff like cable, etc?  

Or if the site needs to be rezoned- locations of existing utilities. - Stormwater/detention requirements and any restrictions due to site topographyFrom there you can go down the road for a surveyor and a full engineering contract. 

It is a fourplex with a SFH on the same property, on market (98 days), where tenants pay all utilities.