It's much easier with electric, gas, etc.  

Hello, I recently hired a licensed contractor to install an electric meter at my Bronx property for me.

Trash $19 Actual Electric $0 Estimate, Tenants pay Gas (for Heat) $0 Estimate, Tenants pay Landscape / Snow $125 Estimate, large shared parking lot, lots of grass, lots of snow Accounting / Tax $50 Estimate Legal $30 Estimate Vacancy/Loss 10% $253 Estimate, number bank appraiser uses Repairs & Maintenance 5% $126 Estimate, appears to be very little deferred maintence, would be confirmed Management 10% $253 Estimate, would self manage, but to put against NOI Total NOI Costs $1,763 ................................................

I bought a 3-fam that was "move-in ready" but within the first few months of living there I had to pay thousands in fixing plumbing and electrical issues - whole situation was SUCH a headache. 

I do NOT want tenants hooking up their own stoves, gas or electric!

Before you tear the drywall ceiling out in the basement make sure your firewall requirements will be sufficient with what's left.. are you exposing plumbing and electrical?

I'm very lucky that I was able to do almost all the work with my parents minus some electrical, tree removal, and putting in a driveway. 

I am a 30 year old electrical engineer on a 10 year (preferably sooner) retirement plan.

Tenants pay gas & electric.

Even though I have budgeted for a reserve, as all new systems (plumbing/heating/electrical/insulation/) have gone into the place, the only thing I know I'll need to put funds aside for is a new roof in about 10 years.