RBC will only lend if you have no more than 5 mortgages (including the one you are trying to finance).If you need to go commercial for a small multi (say 6 - 12 units) which is <1-2M in valuation, I would stay away from the Big-5 and approach your local credit union.

I just increase my rents by $50 and say water is included, job done.

I think Millenials, my generation, have a different mind-set when it comes to a lot of things, including investing.  

@Chase Gochnauer Definitely do not include depreciation expense in your valuation.

Sometimes when people have identity theft they will enter a statement that is included with the report so people know why certain tradelines and other items are listed on the report.  

Again, keeping in mind that this is a small duplex, as the landlord I'd rather not pay an extra $40 a month for standalone internet/cellular service.Which leads me to my question -- insofar as the submetering system could function through a tenant's cable internet service, is there any legal prohibition on including language in a lease to require that a tenant maintain such internet service for the stated purpose of monthly water readings?  

Essentially, a “subject-to” contract is a purchase contract that includes a clause stating that the home sale is dependent on the buyer or seller meeting a certain stipulation.

After deducting all expenses, including the time you spend managing / cleaning / repairing / etc., are you making more money than you would as a long-term rental?

A good realtor should be able to negotiate things like closing date (on maybe the 6th or 7th of the month), seller carry back if needed (or useful), personal property to be included in the price, closing costs, buyer credits back for items in need of repair, home warranty, the list goes on.  

If the partnership is set up using an LLC then the LLC would issue K-1's based on the ownership percentages and it includes guaranteed payments to partners for loans.