I use a standard renters agreement that I have modified (for snow shoveling) and so far it has worked.

Therefore, I include a Lawn/Snow expense, and Utilities - Common Area expense on my proforma. 

There was fierce competition on the property, which is justified because the most conservative NOI is around $2850 giving it a CAP rate of 8.5% and a nice COC return around 10% - 16% depending on how expensive lawn/snow/water/common area utilities are for the year. 

Nice move, getting out of the snow and into the sun!  

... soon it will be snow shoes on the ground up here ... well, ok, not for a couple of months ;-)If someone on BP ever gets inclined to go further east than Maine, yet remain on the continent, I may be of some assistance.

For the multi-family, we go by every 2 or 3 weeks to do lawns in the summer, and depending on the snow load, we go by every month or less in the winter to plow. 

You will most likely want a management company to take care of common area maintenance (CAM) like parking lot maintenance, snow plowing and landscaping, which as mentioned above, you will bill to tenants in proportion to the square footage that they occupy.

We also have expenses that involve snow removal (depending on the year and property).

With a 2 family, you still have to pay for landscaping and snow plow services but now that cost is divided over 2 units instead of 3 or 4.Two family houses will probably appreciate a bit faster than a 3 family because people priced out of the SFR market would prefer living with one additional family instead of bigger apartment complexes. 

Hi @Ryan Olejnik, good idea to run your numbers by the BP community.I see a couple  of red flags: 1) Repairs too low, plan for ~7% ($161/mth); 2) You need to plan for CapEx, same amount ~7% ($161/mth); 3) What about lawn care/snow removal?