After the presentation I immediately upgraded my mentality and account from a "normal Joe" to  PRO to enhance my experience and utilize all that BP has to offer. 

I also question the expenses on vacancy and utilities rates.   

Greetings all,I recently (within the last hour) spoke with a property management company looking to obtain typical utilities rates in the Malden and Winthrop, Massachusetts area and the response I received to my request took me for a loop.  

Utilities are paid by tenants (gas & electric)  This building is in a C/D neighborhood.  

I could rent it out to another tenant, but this tenant right now doesn't mind living there and paying for all the utility costs, which is fine by us. 

In a hot market like today, I believe there is no sustainable long term way to cut costs on rehabs.1) We tried making all the construction in-house versus hiring subcontractors and we found that after the amount of regulation and compliance BS hoops that we had to jump through that doing everything ourself cost us more money, had to redo work not done correctly, and wasted a lot of time.Hard to hire your own electricians, plumbers, hvac, aesbestos removal, roofing, etc.2) Better to subcontract things like electrical, plumbing, hvac, aesbestos removal and roofing.

Make sure that  all utilities are turned the day you close the property (provided electrical and plumbing are inspected and in good and safe order).  

We've been using a property management company for the duration, and I suspect that they would have a pretty good idea of some deals to be made.I'm just not sure how to utilize this equity that is available.  

My credit is building, My income is sustainable but this will be my first project.

What I think I'm going to is attach this addendum I found online that specifies I'll be sub-metering the two units using option (b) formula based allocation:"If a Utility Bill is sent, each Utility Bill shall be based on either (a) an estimated or actual reading of the sub meter for Resident’s Unit, OR (b) the previous month’s actual bills for the Utilities for the Property allocated to Resident pursuant to an allocation formula based, in whole or in part, upon at least one or more of the following components: the number of Units at the Property, the number of occupied Units at the Property, the square footage of the Unit, the number of occupants in the Unit, and the number of bathrooms in the Unit.