It's separate electric meters however it's one water meter which is landlord responsible.

@Eric Bilderback I Don't know any 'rules of thumb' for this situation, but I would be most concerned about when the electrical and plumbing were redone, check the foundation, hvac systems and roof.  

I have a 0.1 Acre property for sale in Old Town, Maine which needs lawn mowing every week or two until it sells and also a deep clean and coat of paint now that the tenant has vacated.  

,I see a lot of listed properties that have one or more utilities in common.There was one in Caldwell that had Electricity shared between 2 units, and a lot of them have either water or gas shared between one or all units.Anyone have any experience in separating out utilities(Electricity OR Water OR Gas)?

I bring a cheap (about $8) electrical tester that you plug into an outlet, to see if the outlet is wired properly.  

Some of my best deals just needed cleaning and paint.

The second thing I would be aware of is 8k seems a little low for all new flooring, paint, appliances, interior doors, and clean up.  

Can the cost to install a submeter for utilities be tax deductible? I would have assumed yes but I know many landlords who havent done it so maybe not? 

Item Cost Life years Months Cost Per Month Roof $ 6,000.00 25 300 $ 20.00 HVAC $ 4,500.00 15 180 $ 25.00 Hot H2O $ 550.00 8 96 $ 5.73 Flooring Carpet $ 1,800.00 5 60 $ 30.00 Flooring Laminate Wood $ 1,800.00 10 120 $ 15.00 Interior Paint $ 2,500.00 6 72 $ 34.72 Exterior Paint $ 3,000.00 8 96 $ 31.25 Revamp Plumbing $ 1,500.00 20 240 $ 6.25 Revamp Electrical $ 3,500.00 30 360 $ 9.72 Misc $ 200.00 1 12 $ 16.67 Monthly CapEx Allowance _ _ _ $ 179.34 

My plan is to completely gut the house and have everything new - electrical, mechanical, etc.