On many units here the tenant has separate electric but the landlord pays the heat...that alone with Maine property taxes bumps the 50% ratio up to about 60 so if you are zoned for a duplex that is 750 x 2 * . 6 0 = $900.  

I'd like to do this in Richmond and am really interested to hear the cost of this project beyond the shell.. updating electric, plumbing, appliances.

(Zoning is R2 and good to go) So i will need to get a general contractor with subs (plummer and electrical).

Do all your demo work first and at the same time get on the phone and start booking your subcontractors (windows, doors, siding, roofing, electrical, HVAC, plumbing, etc.)...they will likely (if they are good) have a long lead time so you can do any small tasks in between their availability...don't remove your old flooring until you've painted that way you don't have to cover up the floors...just spray and drip at will.

So I'm here for some advice.I have electrical knowledge and really enjoy building things as well.

Unpaid Gas/Electric bills don't go on the tax rolls.  

You then apportion your other building expenses and report those on the Schedule E as well.Here are the expenses you'll want to consider:Mortgage InterestProperty TaxInsuranceWater/Gas/Electric/Sewer/Garbage Removal/Lawn Maintenance/Pool Maintenance (presuming your tenant is allowed to use the lawn and pool)Repairs to the property as a whole (ie, roof, plumbing, electrical repairs)Repairs specifically to the space you are rentingDepreciationYou then measure the room you've rented and compare it to the livable square footage of the house.So let's say you're renting a 300 square foot space, your bedroom is 500 square feet and you share the kitchen, bathroom and living areas and those common areas add up to 1000 square feet.So your rented space is 300 + (1000/2) for an effective square footage of 800 square feet rented.You then take the above mentioned expenses and multiply each one by (800/1800) and you claim that amount of expense.The only exception is repairs specifically to the rented area.  

But I don't want to undercharge either.minimal rehab. had a handyman do some electric, I painted, but otherwise but no contractor etc.expect a nice tax return?

Blessing Electrical ServicesMatt Blessing for licensed electrician

The only other time when this may become an issue is if they complain about roaches, mice, bugs, etc.