You can develop a formula based on square footage and number of occupants per unit, i.e., the % of the bill paid by a person occupying a one bedroom unit will pay a smaller % of the overall bill as 4 persons occupying a two bedroom apartment.Here is an article for your review:http://www.multihousingnews.com/news/national/increasing-revenue-not-rents-with-utility-billing-systems/1004044409.htmlAlso, if you choose this type of plan, you will need to revise your lease agreement to explain that monies paid are first applied to the utility bill and the remainder is paid for rent.

@Jay LozanoJust a heads up there is a Texas Expo happening in San Antonio on May 31st.

Plan ahead if you can to deal with positive and negative trade lines.

Anyway that's getting ahead first if this is your target city go out and view 40 houses and pick the best house in the best location.

You could also create a larger planter in the front yard by eliminating a lot of the grass (maintenance), edging the new space with pavers that match your trim and planting some low maint. low water use species that would add color to the place.

Your formula is good but you did not back out your assignment fee

This is the place to be as you focus ahead.

I have inquired about construction loans with various banks and lenders but have not gone ahead yet to see how much I would qualify for.

When I try to narrow down the list by anything other than sfr, I get 0 results.My targeting has been focused on dumpy places with out of state owners that appear to be vacant because that seems like it would produce more motivated seller leads, but it appears that the consensus is that knowing anything about a property ahead of time is a waste, so when the calls do come in from owners of properties you know nothing at all about, how does the conversation go?

I do eventually want to get into rentals of some type, but for this property we want to go ahead and collect the equity we have in it.Thanks to everyone else for the replies!