That would leave an option to utilize $26,000.00 in equity based off of the $238K loan.That's not a huge chunk of change but if you can also lower the rate there may be a tangible benefit on top of the cash out.

Do you include utilities in the total rent?

Have you utilized tax planning strategies in the blueprint phase?

When analyzing a rental and trying to calculate cash flow, how do you estimate utilities and expenses?

Ask your realtor and they can assist in getting the documentation.In addition, if you wanted to know a more precise number for simply running numbers, you can reach out to the utility company and they can give an average per zip code or even sometimes provide average utility costs for a specific property.

PlusesThey work a lot and whenever able, they are out of the units = less utilities. 

Stopped paying utilities, removed his AC unit but didn't put the window back on so now there is a hole in the wall. 

There are restrictions over how you are permitted to charge for utilities if the units can't be split.

In places with trash service, that tells you if they are living there or just feeding a dog.You can also ask the utility companies what you need to turn on the utilities. 

There's really more to it than that, but it would take 10-15 minutes worth of talking to fully explain, which is a little too much for a forum post.The sale or exchange of the dwelling unit requirement that you're reading in both the majority and the dissent of Gates is in effect an anti-abuse rule to prevent someone from engaging in behavior such as: buying land, putting a mobile home on it, then moving the mobile home to a new lot and selling the old lot every couple of years while utilizing the Sec 121 exclusion on each lot sold.