I am looking at an older 6-plex to flip or BRRRR with shared utilities (master meter). 

Question for those with multifamily properties: My energy provider (Duke Energy) has always classified the "Master" accounts for my quads as residential meters. The Master account being the one that controls the hallw...

Do a STR in a small town with a big industry. 

I haven't done this, but I work in the construction industry and I think it would be very easy to build a foundation to a height, just below the frame, and then jack the home down to transfer the load to the new foundation. 

And if you have an FHA loan the building has been vetted for any major structural or utility repairs.I don't know, can you think of a better one, not assuming he has a lot of capital, or housing experience?

My point was look for diversification or stable industries when investing. 

Currently, I am closing on a house in the Fort Polk area in which I am utilizing an FHA loan, and it will be a live in flip where I’ll do the majority of the work.

Apply it to REI exactly how you would any other industry sector.

This is obviously a little simplistic as it doesn't account for utilities, repairs or capEx.But look at it this way: you have to pay to live somewhere. 

I do have a full time job currently and I'm also attempting to transition my career into the retail real estate industry, so time isn't necessarily abundant for me.